Ikon Markets Daily Forex Analysis (May)

[Ajawed]

May 1, 2013

 

Gold (spot) closed up on Tuesday made its intraday high of US$1,479.94/ounce after setting intraday low of US$1,460.94/ounce. Gold went down by 0.031% at US$1,476.10/ounce.

Trading Strategy: Neutral

Spot gold remains neutral in a range of 1,448-1,485 per ounce; a rise above 1,485 will confirm the continuation of the uptrend towards a target at 1,504, and downside below 1448 will lead to gold toward 1420-1380. Sell at strength at 1479-1486; targeting 1464-1458 and 1454-1446, upside breakage of 1489 will lead to 1500-1525. Buy on dips at 1452-1462 with strict stop loss below 1448 1-hourly closing; targeting 1474-1480 and 1487-1494.

 

 

Silver (spot) closed down on Tuesday made its intraday high of US$24.55/ ounce before setting intraday low of US$24.04/ounce. Silver settled 0.936% down at US$24.32/ounce.

Trading Strategy: Neutral

Short positions at 24.25-24.80 with stop above 25.00; targeting 23.90-23.65 and 23.30, upside breakout of 24.90 will open the way to 25.10-25.90. Buyers can buy in 23.55-23.95 with risk below 23.20 hourly closing, targeting 24.25-24.55 and 24.90-25.10.

 

 

Crude futures (May 2013) on Tuesday made an intra‐day high of US$94.60/bbl and made an intraday low of US$92.85/bbl and settled down by 1.40% at US$93.05/bbl on session close.

Trading Strategy: Neutral

Based on today’s market, Sell below 93.90 / Buy above 93.90.

 

 

EUR/USD on Tuesday made an intra‐day low of US$ 1.3096/EUR and made an intraday high of US$1.3185/EUR and settled the day 0.534% up at US$1.3166/EUR on session close.

Trading Strategy: Neutral

Based on today’s market,, buying the pair above 1.3030-1.3090 targeting 1.3170-1.3190 and 1.3230-1.3260 and stop-loss with four-hour closing below 1.2930. Sell below 1.3190, with risk above 1.3230; targeting 1.3140-1.3050 and 1.2980.

 

 

GBP/USD on Tuesday made an intra‐day low of US$1.5498/GBP and made an intraday high of US$1.5498/GBP and settled the day up by 0.206% at US$1.5530/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, our opinion is selling the pair in below 1.5590; targeting 1.5510-1.5450 and 1.5385-1.5310. Buying can be done 1.5385-1.5410 targeting 1.5540 and 1.5590; stop-loss with four-hour closing below 1.5300.

 

USD/JPY on Tuesday an intra‐day low of JPY96.99/USD and made an intraday high of JPY 98.11/USD and settled the day 0.327% down at JPY97.41/USD on session close.

Trading Strategy: Neutral

Based on today’s market, it might trade in the range of 97.00-98.30. An upward penetration 98.30 might call for 99.00, while a downside breakage of 97.00 might call for 96.30. Selling can be done below 98.15-98.85 targeting 96.95-96.10 stop-loss with four-hour closing above 99.00.

 

http://www.ikonmarkets.com/daily-reports/2013/05/01/

[Ajawed]

May 2, 2013

 

Gold (spot) closed up on Wednesday made its intraday high of US$1,478.00/ounce before setting intraday low of US$1,440.58/ounce. Gold went down by 1.29% at US$1,457.64/ounce.

Trading Strategy: Neutral

Sell at strength at 1460-1475; targeting 1454-1446 and 1438-1428, upside breakage of 1487 will lead to 1500-1525. Buy on dips at 1435-1428 with strict stop loss below 1420 1-hourly closing; targeting 1464-1474 and 1480-1487.

 

 

Silver (spot) closed down on Wednesday made its intraday high of US$24.56/ ounce before setting intraday low of US$23.26/ounce. Silver settled 2.86% down at US$23.64/ounce.

Trading Strategy: Neutral

Short positions at 23.85-24.25 with stop above 24.80; targeting 23.35-22.90 and 23.30, upside breakout of 24.90 will open the way to 25.10-25.90. Buyers can buy in 22.90-23.20 with risk below 22.70 hourly closing, targeting 23.85-24.25 and 24.55-24.90.

 

 

Crude futures (May 2013) on Wednesday made an intra‐day high of US$93.26/bbl and made an intraday low of US$90.11/bbl and settled down by 2.60% at US$91.03/bbl on session close.

Trading Strategy: Neutral

Based on today’s market, Buy above 91.22 / sell below 90.15.

 

 

EUR/USD on Wednesday made an intra‐day low of US$ 1.3188/EUR and made an intraday high of US$1.3177/EUR and settled the day 0.091% up at US$1.3177/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.3185 targeting 1.3155, 1.3115 then 1.3080 and stop-loss with four-hour closing at 1.3230 might be appropriate; whereas, buying can be done above 1.3030-1.3090 targeting 1.3170-1.3190 and 1.3230-1.3260 and stop-loss with four-hour closing below 1.2930. Sell below 1.3190, with risk above 1.3230; targeting 1.3140-1.3050 and 1.2980.

 

 

GBP/USD on Wednesday made an intra‐day low of US$1.5524/GBP and made an intraday high of US$1.5531/GBP and settled the day up by 0.141% at US$1.5553/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, our opinion is selling the pair below 1.5590 targeting 1.5535-1.5490 then 1.5415 and stop-loss at four-hour closing above 1.5630; whereas, buying can be done 1.5410-1.5475 targeting 1.5540 and 1.5590; stop-loss with four-hour closing below 1.5385.

 

 

USD/JPY on Wednesday an intra‐day low of JPY97.01/USD and made an intraday high of JPY 97.68/USD and settled the day 0.051% down at JPY97.37/USD on session close.

Trading Strategy: Neutral

Based on today’s market, it might trade in the range of 97.00-98.30. An upward penetration 98.30 might call for 99.00, while a downside breakage of 97.00 might call for 96.30. selling the pair below 97.35 targeting 97.05, 96.65 then 96.25 and stop-loss with four-hour closing above 97.80.

 

http://www.ikonmarkets.com/daily-reports/2013/05/02/

[Ajawed]

May 6, 2013

 

Gold (spot) closed up on Friday made its intraday high of US$1,488.07/ounce before setting intraday low of US$1,456.36/ounce. Gold went down up 0.25% at US$1,470.75/ounce.

Trading Strategy: Neutral

Sell at strength at 1479-1486; targeting 1454-1446 and 1438-1428, upside breakage of 1489 will lead to 1505-1520. Buy on dips at 1458-1448 with strict stop loss below 1438 1-hourly closing; targeting 1480-1487 and 1494-1500.

 

 

Silver (spot) closed up on Friday made its intraday high of US$24.39/ounce before setting intraday low of US$23.46/ounce. Silver settled 1.14% up at US$24.12/ounce.

Trading Strategy: Neutral

Short positions at 24.25-24.50 with stop above 24.90; targeting 23.35-22.90 and 23.30, upside breakout of 24.90 will open the way to 25.10-25.90. Buyers can buy in 23.40-23.75 with risk below 22.85 hourly closing, targeting 24.25 and 24.55-24.90.

 

 

Crude futures (May 2013) on Friday made an intra‐day high of US$96.04/bbl and made an intraday low of US$93.56/bbl and settled down up 1.72% at US$95.61/bbl on session close.

Trading Strategy: Neutral

Based on today’s market, we prefer to short oil below 97.70, targeting 96.70 and 95.00. Stop loss with four-hour closing above 98.70.

 

 

EUR/USD on Friday made an intra‐day low of US$ 1.3032/EUR and made an intraday high of US$1.3158/EUR and settled the day 0.375% down at US$1.3032/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.3185 targeting 1.3155, 1.3115 then 1.3080 and stop-loss with four-hour closing at 1.3230 might be appropriate; whereas, buying can be done above 1.3030-1.3090 targeting 1.3170-1.3190 and 1.3230-1.3260 and stop-loss with four-hour closing below 1.2930. Sell below 1.3190, with risk above 1.3230; targeting 1.3140-1.3050 and 1.2980.

 

 

GBP/USD on Friday made an intra‐day low of US$1.5479/GBP and made an intraday high of US$1.5600/GBP and settled the day down by 0.244% at US$1.5570/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, our opinion is selling the pair below 1.5590 targeting 1.5535-1.5490 then 1.5415 and stop-loss at four-hour closing above 1.5630; whereas, buying can be done 1.5410-1.5475 targeting 1.5540 and 1.5590; stop-loss with four-hour closing below 1.5385.

 

 

USD/JPY on Friday an intra‐day low of JPY97.88/USD and made an intraday high of JPY 98.99/USD and settled the day 1.013% up at JPY98.99USD on session close.

Trading Strategy: Neutral

Based on today’s market, it might trade in the range of 97.00-98.30. An upward penetration 98.30 might call for 99.00, while a downside breakage of 97.00 might call for 96.30. Selling the pair below 99.90 targeting 98.30-97.80 and 97.05-9 6.65 and stop-loss with four-hour closing above 97.80.

 

http://www.ikonmarkets.com/daily-reports/2013/05/06/

[Ajawed]

May 7, 2013

 

Gold (spot) closed up on Friday made its intraday high of US$1,488.07/ounce before setting intraday low of US$1,456.36/ounce. Gold went down up 0.25% at US$1,470.75/ounce.

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1472-1479; targeting 1454-1446 and 1438-1428, upside breakage of 1485 will lead to 1494 and 1505-1520. Buy on dips at 1458-1448 with strict stop loss below 1438 1-hourly closing; targeting 1480-1487 and 1494-1500.

 

 

Silver (spot) closed down on Monday made its intraday high of US$24.43/ounce before setting intraday low of US$23.84/ounce. Silver settled 0.62% down at US$23.99/ounce.

Trading Strategy: Neutral to Sell on Strength

Short positions at 24.05-24.50 with stop above 24.90; targeting 23.35-22.90 and 23.30, upside breakout of 24.90 will open the way to 25.10-25.90. Buyers can buy in 23.40-23.75 with risk below 22.85 hourly closing, targeting 24.25 and 24.55-24.90.

 

 

Crude futures (May 2013) on Monday made an intra‐day high of US$97.10/bbl and made an intraday low of US$94.83/bbl and settled down up 0.25% at US$95.80/bbl on session close.

Trading Strategy: Neutral to Sell

Based on Based on today’s market, we prefer to short oil below 96.30-97.00, targeting 94.65 and 93.60. Stop loss with four-hour closing above 98.40.

 

 

EUR/USD on Monday made an intra‐day low of US$ 1.3052/EUR and made an intraday high of US$1.3140/EUR and settled the day -0.335% down at US$1.3075/EUR on session close.

Trading Strategy: Neutral

Based on Based on today’s market, selling the pair below 1.3115-1.3155 targeting 1.3060-1.2990 and stop-loss with four-hour closing at 1.3230 might be appropriate; whereas, buying can be done above 1.2990-1.3030 targeting 1.3170-1.3190 and 1.3230-1.3260 and stop-loss with four-hour closing below 1.2930.

 

 

GBP/USD on Monday made an intra‐day low of US$1.5519/GBP and made an intraday high of US$1.5597/GBP and settled the day down by 0.134% at US$1.5539/GBP on session close.

Trading Strategy: Neutral

Based on Based on today’s market, our opinion is selling the pair below 1.5590 targeting 1.5535-1.5490 then 1.5415 and stop-loss at four-hour closing above 1.5630; whereas, buying can be done 1.5410-1.5475 targeting 1.5540 and 1.5590; stop-loss with four-hour closing below 1.5385.

 

 

USD/JPY on Monday an intra‐day low of JPY99.04/USD and made an intraday high of JPY 99.44/USD and settled the day 0.15% up at JPY99.31USD on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair between 99.30-99.90 targeting 98.60-98.30 and 97.80-97.05 and stop-loss with four-hour closing above 100.10.

 

http://www.ikonmarkets.com/daily-reports/2013/05/07/

[Ajawed]

May 8, 2013

 

Gold (spot) closed down on Tuesday made its intraday high of US$1,470.52/ounce before setting intraday low of US$1,441.19/ounce. Gold went down by 1.18% at US$1,452.15/ounce.

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1460-1474; targeting 1446-1438 and 1428-1418, upside breakage of 1485 will lead to 1494 and 1505-1520. Buy on dips at 1446-1440 with strict stop loss below 1438 1-hourly closing; targeting 1460-1474 and 1480-1487.

 

 

Silver (spot) closed down on Tuesday made its intraday high of US$24.06/ounce before setting intraday low of US$23.44/ounce. Silver settled 0.291% down at US$23.94/ounce.

Trading Strategy: Neutral to Sell on Strength

Short positions at 24.05-24.50 with stop above 24.90; targeting 23.35-22.90 and 23.30, upside breakout of 24.90 will open the way to 25.10-25.90. Buyers can buy in 23.40-23.75 with risk below 22.85 hourly closing, targeting 24.25 and 24.55-24.90.

 

 

Crude futures (May 2013) on Tuesday made an intra‐day high of US$96.23/bbl and made an intraday low of US$94.90/bbl and settled down up 0.271% at US$95.51/bbl on session close.

Trading Strategy: Neutral to Sell

Based on today’s market, we prefer to short oil below 96.30-97.00, targeting 94.65 and 93.60. Stop loss with four-hour closing above 98.40.

 

 

EUR/USD on Tuesday made an intra‐day low of US$ 1.3067/EUR and made an intraday high of US$1.3131/EUR and settled the day 0.015% up at US$1.3076/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.3125-1.3155 targeting 1.3060-1.2990 and stop-loss with four-hour closing at 1.3230 might be appropriate; whereas, buying can be done above 1.2990-1.3030 targeting 1.3170-1.3190 and 1.3230-1.3260 and stop-loss with four-hour closing below 1.2930.

 

 

GBP/USD on Tuesday made an intra‐day low of US$1.5449/GBP and made an intraday high of US$1.5550/GBP and settled the day down by 0.373% at US$1.5481/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, our opinion is selling the pair below 1.5590 targeting 1.5535-1.5490 then 1.5415 and stop-loss at four-hour closing above 1.5630; whereas, buying can be done 1.5410-1.5475 targeting 1.5540 and 1.5590; stop-loss with four-hour closing below 1.5385.

 

 

USD/JPY on Tuesday an intra‐day low of JPY98.81/USD and made an intraday high of JPY 99.42/USD and settled the day 0.332% down at JPY99.98/USD on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair between 99.30-99.90 targeting 98.60-98.30 and 97.80-97.05 and stop-loss with four-hour closing above 100.10.

 

http://www.ikonmarkets.com/daily-reports/2013/05/08/

[Ajawed]

May 9, 2013

 

Gold (spot) closed up on Wednesday made its intraday high of US$1,476.61/ounce after setting intraday low of US$1,447.73/ounce. Gold went up by 1.46% at US$1,473.94/ounce.

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1474-1485; targeting 1464-1454 and 1446-1438, upside breakage of 1489 will lead to 1494 and 1505-1520. Buy on dips at 1446-1454 with strict stop loss below 1438 1-hourly closing; targeting 1474 and 1480-1487.

 

 

Silver (spot) closed up on Wednesday made its intraday high of US$24.10/ounce after setting intraday low of US$23.69/ounce. Silver settled 0.02% up at US$23.97/ounce.

Trading Strategy: Neutral to Sell on Strength

Short positions at 24.20-24.50 with stop above 24.90; targeting 23.35-22.90 and 23.30, upside breakout of 24.90 will open the way to 25.10-25.90. Buyers can buy in 23.40-23.75 with risk below 22.85 hourly closing, targeting 24.25 and 24.55-24.90.

 

 

Crude futures (June 2013) on Wednesday made an intra‐day high of US$96.77/bbl and made an intraday low of US$95.24/bbl and settled up by 1.05% at US$96.62/bbl on session close.

Trading Strategy: Neutral to Sell

Based on today’s market, we prefer to short oil below 96.90-97.80, targeting 95.80-94.65. Stop loss with four-hour closing above 98.40.

 

 

EUR/USD on Wednesday made an intra‐day low of US$1.3070/EUR and made an intraday high of US$1.3151/EUR and settled the day 0.565% up at US$1.3151/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.3125-1.3155 targeting 1.3060-1.2990 and stop-loss with four-hour closing at 1.3230 might be appropriate; whereas, buying can be done above 1.2990-1.3030 targeting 1.3170-1.3190 and 1.3230-1.3260 and stop-loss with four-hour closing below 1.2930.

 

 

GBP/USD on Wednesday made an intra‐day low of US$1.5469/GBP and made an intraday high of US$1.5590/GBP and settled the day up by 0.329% at US$1.5532/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, our opinion is selling the pair below 1.5590 targeting 1.5535-1.5490 then 1.5415 and stop-loss at four-hour closing above 1.5630; whereas, buying can be done 1.5410-1.5475 targeting 1.5540 and 1.5590; stop-loss with four-hour closing below 1.5385.

 

 

USD/JPY on Wednesday an intra‐day low of JPY98.57/USD and made an intraday high of JPY 99.14/USD and settled the day 0.001% down at JPY99.98/USD on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair between 99.00-99.90 targeting 98.60-98.30 and 97.80-97.05 and stop-loss with four-hour closing above 100.10.

 

 

http://www.ikonmarkets.com/daily-reports/2013/05/09/

[Ajawed]

May 10, 2013

 

Gold (spot) closed down on Thursday made its intraday high of US$1,457.59/ounce after setting intraday low of US$1,453.28/ounce. Gold went down by 1.07% at US$1,457.59/ounce.

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1466-1474; targeting 1464-1454 and 1446-1438, upside breakage of 1479 will lead to 1485-1494 and 1505-1520. Buy on dips at 1446-1454 with strict stop loss below 1438 1-hourly closing; targeting 1474 and 1480-1487.

 

 

Silver (spot) closed down on Thursday made its intraday high of US$24.19/ounce after setting intraday low of US$23.55/ounce. Silver settled 0.87% up at US$23.72/ounce.

Trading Strategy: Neutral to Sell on Strength

Short positions at 24.05-24.25 with stop above 24.50; targeting 23.35-22.90 and 23.30, upside breakout of 24.50 will open the way to 24.90 and 25.10-25.90. Buyers can buy in 23.30-23.65 with risk below 22.85 hourly closing, targeting 24.25 and 24.55-24.90.

 

 

Crude futures (June 2013) on Thursday made an intra‐day high of US$96.73/bbl and made an intraday low of US$95.33/bbl and settled down by 0.393% at US$96.18/bbl on session close.

Trading Strategy: Neutral to Sell

Based on today’s market, we prefer to short oil below 96.90-97.80, targeting 95.80-94.65. Stop loss with four-hour closing above 98.40.

 

EUR/USD on Thursday made an intra‐day low of US$1.3009/EUR and made an intraday high of US$1.3176/EUR and settled the day 0.844% down at US$1.3040/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.3060-1.3125 targeting 1.3005-1.2980 and stop-loss with four-hour closing at 1.3190 might be appropriate; whereas, buying can be done above 1.2980-1.3005 targeting 1.3170-1.3190 and 1.3230-1.3260 and stop-loss with four-hour closing below 1.2930.

 

 

GBP/USD on Thursday made an intra‐day low of US$1.5424/GBP and made an intraday high of US$1.5586/GBP and settled the day down by 0.553% at US$1.5446/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, our opinion is selling the pair below 1.5490-1.5510 targeting 1.5415-1.5385 and stop-loss at four-hour closing above 1.5590; whereas, buying can be done 1.5385-1.5415 targeting 1.5490-1.5540 and 1.5590; stop-loss with four-hour closing below 1.5365.

 

 

USD/JPY on Thursday an intra‐day low of JPY98.63/USD and made an intraday high of JPY 100.57/USD and settled the day 1.606% up at JPY100.57/USD on session close.

Trading Strategy: Neutral

Based on today’s market, buying the pair between 99.80-100.10 targeting 101.50-102.50 and stop-loss with four-hour closing below 98.60.

 

 

http://www.ikonmarkets.com/daily-reports/2013/05/10/

[Ajawed]

May 13, 2013

 

Gold (spot) closed down on Friday made its intraday high of US$1,462.29/ounce after setting intraday low of US$1,419.81/ounce. Gold went down by 0.66% at US$1,448.55/ounce.

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1446-1454; targeting 1420-1405 and 1380, upside breakage of 1464 will lead to 1485-1494 and 1505-1520. Buy on dips at 1420-1405 with strict stop loss below 1390 1-hourly closing; targeting 1454-1466 and 1474-1480.

 

 

Silver (spot) closed up on Friday made its intraday high of US$23.92/ounce after setting intraday low of US$23.20/ounce. Silver settled 0.61% up at US$23.88/ounce.

Trading Strategy: Neutral to Sell on Strength

Short positions at 23.65-24.05 with stop above 24.40; targeting 23.35-22.90 and 22.30, upside breakout of 24.50 will open the way to 24.90 and 25.10-25.90. Buyers can buy in 22.90-23.20 with risk below 22.85 hourly closing, targeting 24.25 and 24.55-24.90.

 

 

Crude futures (June 2013) on Friday made an intra‐day high of US$96.24/bbl and made an intraday low of US$93.37/bbl and settled down by 0.36% at US$96.04/bbl on session close.

Trading Strategy: Neutral to Sell

Based on the charts and explanations above, we prefer to short oil below 96.90-97.80, targeting 95.80-94.65. Stop loss with four-hour closing above 98.40.

 

 

EUR/USD on Friday made an intra‐day low of US$1.2934/EUR and made an intraday high of US$1.3050/EUR and settled the day 0.394% down at US$1.2988/EUR on session close.

Trading Strategy: Neutral

Based on the charts and explanations above, selling the pair below 1.3060-1.3125 targeting 1.3005-1.2980 and stop-loss with four-hour closing at 1.3190 might be appropriate; whereas, buying can be done above 1.2980-1.3005 targeting 1.3170-1.3190 and 1.3230-1.3260 and stop-loss with four-hour closing below 1.2930.

 

 

GBP/USD on Friday made an intra‐day low of US$1.5313/GBP and made an intraday high of US$1.5586/GBP and settled the day down by 0.563% at US$1.5359/GBP on session close.

Trading Strategy: Neutral

Based on the charts and explanations above, our opinion is selling the pair below 1.5490-1.5510 targeting 1.5415-1.5385 and stop-loss at four-hour closing above 1.5590; whereas, buying can be done 1.5385-1.5415 targeting 1.5490-1.5540 and 1.5590; stop-loss with four-hour closing below 1.5365.

 

 

USD/JPY on Friday an intra‐day low of JPY100.53/USD and made an intraday high of JPY 101.97/USD and settled the day 0.566% down at JPY101.57/USD on session close.

Trading Strategy: Neutral

Based on the charts and explanations above, buying the pair between 99.80-100.10 targeting 101.50-102.50 and stop-loss with four-hour closing below 98.60.

 

http://www.ikonmarkets.com/daily-reports/2013/05/13/

[Ajawed]

May 14, 2013

 

Gold (spot) closed down on Monday made its intraday high of US$1,448.96/ounce after setting intraday low of US$1,425.83/ounce. Gold went down by 1.277% at US$1,430.14/ounce.

Trading Strategy: Neutral

Sell at strength at 1446-1454; targeting 1420-1405 and 1380, upside breakage of 1464 will lead to 1485-1494 and 1505-1520. Buy on dips at 1420-1429 with strict stop loss below 1415 1-hourly closing; targeting 1446-1454 and 1466-1474.

 

 

Silver (spot) closed down on Monday made its intraday high of US$23.85/ounce after setting intraday low of US$23.49/ounce. Silver settled 0.71% down at US$23.66/ounce.

Trading Strategy: Neutral

Silver looks neutral in-between 23.20-24.40, upside breakage of 24.40 will lead to 24.90-25.10; whereas, breakage below 23.20 may call for 22.90-22.60. Short positions at 23.95-24.25 with stop above 24.40; targeting 23.35-22.90 and 22.30, upside breakout of 24.40 will open the way to 24.60-24.90 and 25.10-25.90. Buyers can buy in 22.90-23.20 with risk below 22.85 hourly closing, targeting 24.25 and 24.55-24.90.

 

 

Crude futures (June 2013) on Monday made an intra‐day high of US$95.76/bbl and made an intraday low of US$94.47/bbl and settled down by 0.90% at US$94.88/bbl on session close.

Trading Strategy: Neutral to Sell

U.S. oil is expected to retest a support at $93.58 per barrel. A rise from the current point could be capped at $97.05, but a further gain above $97.05 will signal an extension of the uptrend towards $99.19.Based on the charts and explanations above, we prefer to short oil below 96.90-97.80, targeting 95.80-94.65. Stop loss with four-hour closing above 98.40.

 

 

EUR/USD on Monday made an intra‐day low of US$1.2940/EUR and made an intraday high of US$1.2998/EUR and settled the day 0.03% down at US$1.2973/EUR on session close.

Trading Strategy: Neutral

Based on the charts and explanations above, selling the pair below 1.3060-1.3125 targeting 1.3005-1.2980 and stop-loss with four-hour closing at 1.3190 might be appropriate; whereas, buying can be done above 1.2960-1.3005 targeting 1.3170-1.3190 and 1.3230-1.3260 and stop-loss with four-hour closing below 1.2940.

 

 

GBP/USD on Monday made an intra‐day low of US$1.5276/GBP and made an intraday high of US$1.5383/GBP and settled the day down by 0.351% at US$1.5298/GBP on session close.

Trading Strategy: Neutral

Based on the charts and explanations above, our opinion is buying can be done 1.5270-1.5310 targeting 1.5410 and 1.5490-1.5540; stop-loss with four-hour closing below 1.5200; whereas, selling the pair below 1.5350-1.5410 targeting 1.5270-1.5190 and stop-loss at four-hour closing above 1.5510.

 

 

USD/JPY on Monday an intra‐day low of JPY101.50/USD and made an intraday high of JPY 102.14/USD and settled the day 0.058% down at JPY101.81/USD on session close.

Trading Strategy: Neutral

Based on the charts and explanations above, buying the pair between 100.10-100.50 targeting 101.50-102.50 and stop-loss with four-hour closing below 99.80.

 

 

http://ikonmarkets.com/daily-reports/2013/05/14/

Edited May 14, 2013 by Ajawed

[Ajawed]

May 15, 2013

 

Gold (spot)closed down on Tuesday made its intraday high of US$1,445.38/ounce before setting intraday low of US$1,421.14/ounce. Gold went down by0.346% at US$1,425.14/ounce.

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1436-1446; targeting 1420-1405 and 1380, upside breakage of 1454 will lead to1464-1474 and 1485-1494. Buy on dips at 1418-1424with strict stop loss below 14151-hourly closing; targeting 1446-1454 and 1466-1474.

 

 

Silver (spot) closed down on Tuesday made its intraday high of US$23.79/ounce after setting intraday low of US$23.23/ounce. Silver settled 0.93% down at US$23.40/ounce.

Trading Strategy: Neutral

Silver looks neutral in-between 23.05-24.40, upside breakage of 24.40 will lead to 24.90-25.10; whereas, breakage below 23.05 may call for 22.90-22.60. Short positions at 23.65-24.05 with stop above 24.40; targeting 23.05-22.90 and 22.30, upside breakout of 24.40will open the way to24.60-24.90 and 25.10-25.90.Buyers can buy in 22.90-23.05with risk below 22.85 hourly closing, targeting 24.25 and 24.55-24.90.

 

 

Crude futures (June 2013) on Tuesday made an intra‐day high of US$95.64/bbl and made an intraday low of US$93.83/bbland settled down by 0.748%at US$94.19/bbl on session close.

Trading Strategy: Neutral to Sell

U.S. oil is expected to retest a support at 93.58 per barrel. A rise from the current point could be capped at 97.05, but a further gain above 97.05 will signal an extension of the uptrend towards 99.19. Based on today’s market, we prefer to short oil below 94.90-95.70, targeting 93.80-93.10. Stop loss with four-hour closing above 97.05.

 

 

EUR/USD on Tuesday made an intra‐day low ofUS$1.2911/EUR and made an intraday high of US$1.3028/EUR and settled the day 0.477%downat US$1.2918/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.2960-1.3060 targeting 1.2870-1.2800 and stop-loss with four-hour closing at 1.3155 might be appropriate; whereas, buying can be done above 1.2960-1.3005 targeting 1.3170-1.3190 and 1.3230-1.3260 and stop-loss with four-hour closing below 1.2940.

 

GBP/USD on Tuesday made an intra‐day low ofUS$1.5206/GBP and made an intraday high of US$1.5330/GBP and settled the day downby1.464% at US$1.5207/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, our opinion is buying can be done 1.5270-1.5310 targeting 1.5410 and 1.5490-1.5540; stop-loss with four-hour closing below 1.5200; whereas, selling the pair below 1.5350-1.5410 targeting 1.5270-1.5190 and stop-loss at four-hour closing above 1.5510.

 

 

USD/JPY on Tuesday an intraday low of JPY101.25/USD and made an intraday high of JPY 102.42/USD and settled the day 0.569% up at JPY102.39/USD on session close.

Trading Strategy: Neutral

Based on today’s market, buying the pair between 100.10-100.50 targeting 101.50-102.50 and stop-loss with four-hour closing below 99.80.

 

http://ikonmarkets.com/daily-reports/2013/05/15/

[Ajawed]

May 16, 2013

 

Gold (spot)closed downonWednesdaymade its intraday highof US$1,430.89/ounce beforesetting intraday low of US$1,389.48/ounce. Gold went down by2.28%at US$1,393.03/ounce

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1398-1411; targeting 1385-1374 and 1380, upside breakage of 1420 will lead to1434-1445 and 1454-1464. Buy on dips at 1374-1382with strict stop loss below 13671-hourly closing; targeting 1398-1411 and 1420-1436.

 

 

Silver (spot) closed downon Wednesdaymade its intraday highof US$23.50/ounceaftersetting intraday lowof US$22.52/ounce. Silver settled 3.47%downat US$22.60/ounce.

Trading Strategy: Neutral

Short positions at 22.90-23.65with stop above 24.05; targeting 22.30-21.90, upside breakout of 24.05will open the way to24.25-24.60 and 24.90-25.10.Buyers can buy above 21.90,targeting 22.70-23.05 and 23.65-24.25.

 

 

Crude futures (June 2013) on Wednesday made an intra‐day high of US$94.44/bbl and made an intraday low of US$92.12/bbl and settled up by 0.10%at US$94.30/bbl on session close.

Trading Strategy: Neutral to Sell

Based on today’s market, we prefer to short oil below 94.40-95.70, targeting 93.80-93.10. Stop loss with four-hour closing above 97.05.

 

 

EUR/USD on Wednesday made an intra‐day low ofUS$1.2842/EUR and made an intraday high of US$1.2941/EUR and settled the day 0.255%downat US$1.2885/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.2920-1.2960 targeting 1.2870-1.2800 and stop-loss with four-hour closing at 1.3155 might be appropriate; whereas, buying can be done above 1.2800-1.2840 targeting 1.3060-1.3120 and 1.3170-1.3190and stop-loss with four-hour closing below 1.2740.

 

 

GBP/USD on Wednesday made an intra‐day low of US$1.5207/GBP and made an intraday high of US$1.5271/GBP and settled the day upby0.157% at US$1.5231/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, our opinion is can be done 1.5200-1.5150 targeting 1.5270-1.5350 and 1.5410; stop-loss with four-hour closing below 1.5100; whereas, selling the pair below 1.5270-1.5350 targeting 1.5190-1.5150 and stop-loss at four-hour closing above 1.5410.

 

 

USD/JPY on Wednesday an intra‐day low of JPY101.85/USD and made an intraday high of JPY102.75/USD and settled the day 0.014% down at JPY102.22/USD on session close.

Trading Strategy: Neutral

Based on today’s market, buying the pair 101.30-101.50targeting 102.50-103.10and stop-loss with four-hour closing below 99.80.

 

http://www.ikonmarkets.com/daily-reports/2013/05/16/

[Ajawed]

May 17, 2013

 

Gold (spot) closed down on Thursday made its intraday high of US$1,398.10/ounce before setting intraday low of US$1,369.53/ounce. Gold went down by 0.556% at US$1,385.51/ounce.

Trading Strategy: Neutral to Sell on Strength

Spot gold may move sideways in a range of 1,369-1,387 per ounce for a session before either edging up to 1,398 or falling more to 1,350. Sell at strength at 1387-1498; targeting 1374-1369 and 1361, upside breakage of 1400 will lead to 1411-1420 and 1434-1445. Buy on dips at 1361-1369 with strict stop loss below 1350 1-hourly closing; targeting 1387 and 1398-1411.

 

 

Silver (spot) closed up on Thursday made its intraday high of US$22.81/ounce after setting intraday low of US$22.11/ounce. Silver settled 0.398% up at US$22.67/ounce.

Trading Strategy: Neutral

Short positions at 22.90-23.65 with stop above 24.05; targeting 22.30-21.90, upside breakout of 24.05 will open the way to 24.25-24.60 and 24.90-25.10. Buyers can buy above 21.90, targeting 22.70-23.05 and 23.65-24.25.

 

 

Crude futures (June 2013) on Thursday made an intra‐day high of US$95.54/bbl and made an intraday low of US$93.25/bbl and settled up by 0.911% at US$95.18/bbl on session close.

Trading Strategy: Neutral to Sell

Based on today’s market, we prefer to short oil below 94.90-95.70, targeting 93.80-93.10. Stop loss with four-hour closing above 97.05.

 

 

EUR/USD on Thursday made an intra‐day low of US$1.2842/EUR and made an intraday high of US$1.2941/EUR and settled the day 0.255% down at US$1.2885/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.2920-1.2960 targeting 1.2870-1.2800 and stop-loss with four-hour closing at 1.3155 might be appropriate; whereas, buying can be done above 1.2800-1.2840 targeting 1.3060-1.3120 and 1.3170-1.3190 and stop-loss with four-hour closing below 1.2740.

 

 

GBP/USD on Thursday made an intra‐day low of US$1.5266/GBP and made an intraday high of US$1.5321/GBP and settled the day up by 0.223% at US$1.5266/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, our opinion is can be done 1.5200-1.5150 targeting 1.5270-1.5350 and 1.5410; stop-loss with four-hour closing below 1.5100; whereas, selling the pair below 1.5270-1.5350 targeting 1.5190-1.5150 and stop-loss at four-hour closing above 1.5410.

 

 

USD/JPY on Thursday an intra‐day low of JPY101.82/USD and made an intraday high of JPY 102.67/USD and settled the day 0.009% up at JPY102.24/USD on session close.

Trading Strategy: Neutral

Based on today’s market, buying the pair 101.30-101.50 targeting 102.50-103.10 and stop-loss with four-hour closing below 99.80.

 

 

http://www.ikonmarkets.com/daily-reports/2013/05/17/

[Ajawed]

May 20, 2013

 

Gold (spot) closed down on Friday made its intraday high of US$1,392.89/ounce before setting intraday low of US$1,355.16/ounce. Gold went down by 1.903% at US$1,359.94/ounce.

Trading Strategy: Neutral to Sell on Strength

Spot gold is expected to end its current weak rebound below resistance at 1,362 and then resume its drop towards 1,321. Sell at strength at 1355-1362; targeting 1374-1369 and 1361, upside breakage of 1362 will lead to 1370-1383 and 1388-1398. Buy on dips at 1305-1321 with strict stop loss below 1280 1-hourly closing; targeting 1362-1379 and 1388-1398.

 

 

Silver (spot) closed down on Friday made its intraday high of US$22.79/ounce after setting intraday low of US$22.16/ounce. Silver settled 1.756% down at US$22.23/ounce.

Trading Strategy: Neutral

Short positions at 21.85-22.25 with stop above 23.00; targeting 20.50-20.10 and 19.80, upside breakout of 23.00 will open the way to 23.65-24.25 and 24.60-24.90. Buyers can buy above 20.10-20.50, targeting 21.85-22.20 and 22.70-23.05.

 

 

Crude futures (June 2013) on Friday made an intra‐day high of US$96.42/bbl and made an intraday low of US$94.72/bbl and settled up by 0.77% at US$95.89/bbl on session close.

Trading Strategy: Neutral to Sell

Based on today’s market, we prefer to short oil below 95.70-96.75, targeting 93.80-93.10. Stop loss with four-hour closing above 97.05.

 

 

EUR/USD on Friday made an intra‐day low of US$1.2795/EUR and made an intraday high of US$1.2888/EUR and settled the day 0.344% down at US$1.2836/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.2900-1.2960 targeting 1.2870-1.2800 and stop-loss with four-hour closing at 1.3040 might be appropriate; whereas, buying can be done above 1.2800-1.2840 targeting 1.3060-1.3120 and 1.3170-1.3190 and stop-loss with four-hour closing below 1.2740.

 

 

GBP/USD on Friday made an intra‐day low of US$1.5156/GBP and made an intraday high of US$1.5281/GBP and settled the day down by 0.661% at US$1.5165/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, our opinion is can be done 1.5200-1.5150 targeting 1.5270-1.5350 and 1.5410; stop-loss with four-hour closing below 1.5100; whereas, selling the pair below 1.5270-1.5350 targeting 1.5190-1.5150 and stop-loss at four-hour closing above 1.5410.

 

 

USD/JPY on Friday an intra‐day low of JPY102.07/USD and made an intraday high of JPY 103.29/USD and settled the day 0.919% up at JPY103.18/USD on session close.

Trading Strategy: Neutral

Based on today’s market, buying the pair 101.30-101.50 targeting 102.50-103.10 and stop-loss with four-hour closing below 99.80.

 

 

http://www.ikonmarkets.com/daily-reports/2013/05/20/

[Ajawed]

May 21, 2013

 

Gold (spot) closed up on Monday made its intraday high of US$1,399.60/ounce before setting intraday low of US$1,338.04/ounce. Gold went up by 2.192% at US$1,393.35/ounce.

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1400-1411; targeting 1382-1374 and 1369-1361, upside breakage of 1420 will lead to 1434-1445 and 1455-1469. Buy on dips at 1382-1369 with strict stop loss below 1363 1-hourly closing; targeting 1398-1405 and 1411-1420.

 

 

Silver (spot) closed up on Monday made its intraday high of US$23.15/ounce after setting intraday low of US$20.14/ounce. Silver settled 2.60% up at US$22.88/ounce.

Trading Strategy: Neutral

Short positions at 22.90-23.80 with stop above 24.20; targeting 22.65-22.05 and 21.80-21.50, upside breakout of 24.20 will open the way to 24.60-24.90. Buyers can buy above 21.90-22.20, targeting 23.05-23.85 and 24.20-24.60 with risk below 21.0.

 

 

Crude futures (June 2013) on Monday made an intra‐day high of US$97.06/bbl and made an intraday low of US$95.19/bbl and settled up by 0.709% at US$96.58/bbl on session close.

Trading Strategy: Neutral to Sell

Based on today’s market, we prefer to short oil below 97.05-97.90, targeting 95.70-94.60 and 93.80-93.10. Stop loss with four-hour closing above 98.40.

 

 

EUR/USD on Monday made an intra‐day low of US$1.2818/EUR and made an intraday high of US$1.2899/EUR and settled the day 0.311% up at US$1.2881/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.2900-1.2960 targeting 1.2870-1.2800 and stop-loss with four-hour closing at 1.3040 might be appropriate; whereas, buying can be done above 1.2800-1.2840 targeting 1.3060-1.3120 and 1.3170-1.3190 and stop-loss with four-hour closing below 1.2740.

 

 

GBP/USD on Monday made an intra‐day low of US$1.5165/GBP and made an intraday high of US$1.5280/GBP and settled the day up by 0.427% at US$1.5254/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, our opinion is can be done 1.5200-1.5150 targeting 1.5270-1.5350 and 1.5410; stop-loss with four-hour closing below 1.5100; whereas, selling the pair below 1.5270-1.5350 targeting 1.5190-1.5150 and stop-loss at four-hour closing above 1.5410.

 

 

USD/JPY on Monday an intra‐day low of JPY101.95/USD and made an intraday high of JPY 102.93/USD and settled the day 0.467% down at JPY102.93/USD on session close.

Trading Strategy: Neutral

Based on today’s market, buying the pair 101.30-101.50 targeting 102.50-103.10 and stop-loss with four-hour closing below 99.80.

 

 

http://www.ikonmarkets.com/daily-reports/2013/05/21/

[Ajawed]

May 22, 2013

 

Gold (spot) closed down on Tuesday made its intraday high of US$1,401.40/ounce before setting intraday low of US$1,359.61/ounce. Gold went down by 1.303% at US$1,375.88/ounce.

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1388-1400; targeting 1382-1374 and 1369-1361, upside breakage of 1405 will lead to 1411-1420 and 1434-1445. Buy on dips at 1369-1358 with strict stop loss below 1350 1-hourly closing; targeting 1381-1388 and 1398-1405.

 

 

Silver (spot) closed down Tuesday made its intraday high of US$22.94/ounce after setting intraday low of US$22.07/ounce. Silver settled 2.26% down at US$22.41/ounce.

Trading Strategy: Neutral

Short positions at 22.90-23.80 with stop above 24.20; targeting 22.65-22.05 and 21.80-21.50, upside breakout of 24.20 will open the way to 24.60-24.90. Buyers can buy above 21.90-22.20, targeting 23.05-23.85 and 24.20-24.60 with risk below 21.0.

 

 

Crude futures (June 2013) on Tuesday made an intra‐day high of US$97.21/bbl and made an intraday low of US$95.71/bbl and settled down by 0.98% at US$95.93/bbl on session close.

Trading Strategy: Neutral to Sell

Based on today’s market, we prefer to short oil below 96.30-97.05, targeting 95.70-94.60 and 93.80-93.10. Stop loss with four-hour closing above 97.90. Buy above 95, using a stop loss of 94.60, targeting 96.30-97.05.

 

 

EUR/USD on Tuesday made an intra‐day low of US$1.2840/EUR and made an intraday high of US$1.2905/EUR and settled the day 0.186% up at US$1.2905/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.2940-1.2960 targeting 1.2870-1.2800 and stop-loss with four-hour closing at 1.3040 might be appropriate; whereas, buying can be done above 1.2800-1.2840 targeting 1.3060-1.3120 and 1.3170-1.3190 and stop-loss with four-hour closing below 1.2740.

 

 

GBP/USD on Tuesday made an intra‐day low of US$1.5116/GBP and made an intraday high of US$1.5275/GBP and settled the day down by 0.668% at US$1.5151/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, our opinion is buying can be done 1.5070-1.5100 targeting 1.5270-1.5350 and 1.5410; stop-loss with four-hour closing below 1.500; whereas, selling the pair below 1.5200-1.5270 targeting 1.5190-1.5150 and stop-loss at four-hour closing above 1.5350.

 

 

USD/JPY on Tuesday an intra‐day low of JPY102.06/USD and made an intraday high of JPY 102.87/USD and settled the day 0.215% up at JPY102.45/USD on session close.

Trading Strategy: Neutral

Based on today’s market, buying the pair 101.50-102.100 targeting 102.50-103.10 and stop-loss with four-hour closing below 99.80.

 

 

http://www.ikonmarkets.com/daily-reports/2013/05/22/

[Ajawed]

May 23, 2013

 

Gold (spot) closed down on Wednesday made its intraday high of US$1,414.45/ounce before setting intraday low of US$1,354.26/ounce. Gold went down by 0.457% at US$1,369.40/ounce.

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1379-1388; targeting 1369-1361 and 1354-1336, upside breakage of 1405 will lead to 1411-1420 and 1434-1445. Buy on dips at 1354-1361 with strict stop loss below 1350 1-hourly closing; targeting 1381-1388 and 1398-1405.

 

 

Silver (spot) closed down Wednesday made its intraday high of US$23.30/ounce after setting intraday low of US$22.26/ounce. Silver settled 0.536% down at US$22.26/ounce.

Trading Strategy: Neutral

Short positions at 22.90-23.80 with stop above 24.20; targeting 22.65-22.05 and 21.80-21.50, upside breakout of 24.20 will open the way to 24.60-24.90. Buyers can buy above 21.90-22.20, targeting 23.05-23.85 and 24.20-24.60 with risk below 21.0.

 

 

Crude futures (June 2013) on Wednesday made an intra‐day high of US$96.17/bbl and made an intraday low of US$94.00/bbl and settled down by 1.85% at US$94.12/bbl on session close.

Trading Strategy: Neutral to Sell

Based on today’s market, we prefer to short oil below 94.60-95.70, targeting 93.80-93.10 and 92.60. Stop loss with four-hour closing above 97.05. Buy above 93.40, using a stop loss of 92.60, targeting 96.30-97.05.

 

 

EUR/USD on Wednesday made an intra‐day low of US$1.2832/EUR and made an intraday high of US$1.2997/EUR and settled the day 0.371% down at US$1.2857/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.2880-1.2940 targeting 1.2800-1.2740 and stop-loss with four-hour closing at 1.3040 might be appropriate; whereas, buying can be done above 1.2740-1.2800 targeting 1.2950-1.3060 and 1.3120 and stop-loss with four-hour closing below 1.2690.

 

 

GBP/USD on Wednesday made an intra‐day low of US$1.5018/GBP and made an intraday high of US$1.5172/GBP and settled the day down by 0.692% at US$1.5047/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, our opinion is buying can be done 1.4950-1.5010 targeting 1.5105-1.5270 and 1.5350; stop-loss with four-hour closing below 1.4900; whereas, selling the pair below 1.5105-1.5200 targeting 1.5190-1.5150 and stop-loss at four-hour closing above 1.5210.

 

 

USD/JPY on Tuesday an intra‐day low of JPY102.34/USD and made an intraday high of JPY 103.72/USD and settled the day 0.663% up at JPY103.14/USD on session close.

Trading Strategy: Neutral

Based on today’s market, buying the pair 101.50-102.100 targeting 102.50-103.10 and stop-loss with four-hour closing below 99.80.

 

 

http://www.ikonmarkets.com/daily-reports/2013/05/23/

[Ajawed]

May 24, 2013

 

Gold (spot) closed up on Thursday made its intraday high of US$1,398.05/ounce before setting intraday low of US$1,356.60/ounce. Gold went up by 1.633% at US$1,390.65/ounce.

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1398-1408; targeting 1384-1374 and 1369-1361, upside breakage of 1414 will lead to 1420-1426 and 1434-1445. Buy on dips at 1369-1381 with strict stop loss below 1360 1-hourly closing; targeting 1398-1405 and 1414-1420; break below 1353 will call for 1341-1336 and 1321.

 

 

Silver (spot) closed up Thursday made its intraday high of US$22.68/ounce after setting intraday low of US$21.97/ounce. Silver settled 1.574% up at US$22.58/ounce.

Trading Strategy: Neutral to Sell on Strength

Short positions at 22.90-23.80 with stop above 24.20; targeting 22.35-22.05 and 21.80-21.50, upside breakout of 24.20 will open the way to 24.60-24.90. Buyers can buy above 21.90-22.10, targeting 23.05-23.85 and 24.20-24.60 with risk below 21.0.

 

 

Crude futures (June 2013) on Thursday made an intra‐day high of US$94.43/bbl and made an intraday low of US$92.20/bbl and settled down by 0.297% at US$94.41/bbl on session close.

Trading Strategy: Neutral to Sell

Based on today’s market, we prefer to short oil below 94.60-95.70, targeting 93.80-93.10 and 92.60. Stop loss with four-hour closing above 97.05. Buy above 92.90-93.40, using a stop loss of 92.40, targeting 96.30-97.05.

 

 

EUR/USD on Thursday made an intra‐day low of US$1.2820/EUR and made an intraday high of US$1.2955/EUR and settled the day 0.519% up at US$1.2932/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.2940-1.3040 targeting 1.2880-1.2740 and stop-loss with four-hour closing at 1.3060 might be appropriate; whereas, buying can be done above 1.2740-1.2800 targeting 1.2950-1.3060 and 1.3120 and stop-loss with four-hour closing below 1.2690.

 

 

GBP/USD on Thursday made an intra‐day low of US$1.5127/GBP and made an intraday high of US$1.5127/GBP and settled the day up by 0.378% at US$1.5104/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, our opinion is buying can be done 1.4950-1.5010 targeting 1.5105-1.5270 and 1.5350; stop-loss with four-hour closing below 1.4900; whereas, selling the pair below 1.5105-1.5200 targeting 1.5190-1.5150 and stop-loss at four-hour closing above 1.5210.

 

 

USD/JPY on Thursday an intra‐day low of JPY102.00/USD and made an intraday high of JPY 103.56/USD and settled the day 1.104% up at JPY102.00/USD on session close.

Trading Strategy: Neutral

Based on today’s market, buying the pair 101.50-102.100 targeting 102.50-103.10 and stop-loss with four-hour closing below 99.80.

 

 

http://www.ikonmarkets.com/daily-reports/2013/05/24/

[Ajawed]

May 27, 2013

 

Gold (spot) closed down on Friday made its intraday high of US$1,398.05/ounce before setting intraday low of US$1,382.31/ounce. Gold went down by 0.329% at US$1,386.15/ounce.

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1394-1405; targeting 1384-1374 and 1369-1361, upside breakage of 1414 will lead to 1420-1426 and 1434-1445. Buy on dips at 1369-1381 with strict stop loss below 1360 1-hourly closing; targeting 1398-1405 and 1414-1420; break below 1353 will call for 1341-1336 and 1321.

 

 

Silver (spot) closed down Friday made its intraday high of US$22.64/ounce before setting intraday low of US$22.32/ounce. Silver settled 0.886% down at US$22.37/ounce.

Trading Strategy: Neutral to Sell on Strength

Short positions at 22.80-23.40 with stop above 23.80; targeting 22.35-22.05 and 21.80-21.50, upside breakout of 23.80 will open the way to 24.20 and 24.60-24.90. Buyers can buy above 21.90-22.10, targeting 23.05-23.85 and 24.20-24.60 with risk below 21.0.

 

 

Crude futures (June 2013) on Friday made an intra‐day high of US$94.38/bbl and made an intraday low of US$93.03/bbl and settled down by 0.540% at US$93.83/bbl on session close.

Trading Strategy: Neutral

Based on today’s market, we prefer to short oil below 93.80-94.60, targeting 93.80-93.10 and 92.60. Stop loss with four-hour closing above 95.80. Buy above 92.30-93.10, using a stop loss of 91.50, targeting 94.60-95.70 and 96.30-97.05.

 

 

EUR/USD on Friday made an intra‐day low of US$1.2903/EUR and made an intraday high of US$1.2992/EUR and settled the day 0.032% down at US$1.2928/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.2950-1.3040 targeting 1.2880-1.2740 and stop-loss with four-hour closing at 1.3060 might be appropriate; whereas, buying can be done above 1.2740-1.2800 targeting 1.2950-1.3060 and 1.3120 and stop-loss with four-hour closing below 1.2690.

 

 

GBP/USD on Friday made an intra‐day low of US$1.5062/GBP and made an intraday high of US$1.5141/GBP and settled the day up by 0.125% at US$1.5123/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, might trade in the range of 1.5080-1.5140. Upside penetration might call for 1.5200, while a downward breakage might call for 1.5010. In our opinion is buying can be done 1.5030-1.5090 targeting 1.5170-1.5270 and 1.5350; stop-loss with four-hour closing below 1.500; whereas, selling the pair below 1.5170-1.5230 targeting 1.5190-1.5150 and stop-loss at four-hour closing above 1.5300.

 

 

USD/JPY on Friday an intra‐day low of JPY100.65/USD and made an intraday high of JPY 102.57/USD and settled the day 0.715% down at JPY101.26/USD on session close.

Trading Strategy: Neutral

Based on today’s market, might trade in the range of 100.50-101.50. Upside penetration might call for 102, while a downward breakage might call for 99.80. In our opinion buying can be done 99.90-100.50 targeting 101.50-101.90 and 102.50-103.10 and stop-loss with four-hour closing below 99.80.

 

 

http://www.ikonmarkets.com/daily-reports/2013/05/27/

[Ajawed]

May 28, 2013

 

Gold (spot) closed upon Monday made its intraday highof US$1,396.60/ounce after setting intraday low of US$1,384.39/ounce. Gold went up by 0.543%at US$1,394.55/ounce.

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1394-1405; targeting 1384-1374 and 1369-1361, upside breakage of 1414 will lead to 1420-1426 and 1434-1445. Buy on dips at 1369-1381 with strict stop loss below 1360 1-hourly closing; targeting 1398-1405 and 1414-1420; break below 1353 will call for 1341-1336 and 1321.

 

 

Silver (spot) closed up Monday made its intraday high of US$22.76/ounce after setting intraday low of US$22.32/ounce. Silver settled 1.211%upat US$22.66/ounce.

Trading Strategy: Neutral to Sell on Strength

Short positions at 22.80-23.40 with stop above 23.80; targeting 22.35-22.05 and 21.80-21.50, upside breakout of 23.80 will open the way to 24.20 and 24.60-24.90. Buyers can buy above 21.90-22.10, targeting 23.05-23.85 and 24.20-24.60 with risk below 21.0.

 

 

Crude futures (June 2013) on Monday made an intra‐day high of US$93.88/bbl and made an intraday low of US$93.22/bbl and settled down by 0.245% at US$93.64/bbl on session close.

Trading Strategy: Neutral

Based on today’s market, we prefer to short oil below 93.80-94.60, targeting 93.80-93.10 and 92.60. Stop loss with four-hour closing above 95.80. Buy above 92.30-93.10, using a stop loss of 91.50, targeting 94.60-95.70 and 96.30-97.05.

 

 

EUR/USD on Monday made an intra-day low ofUS$1.2914/EUR and made an intraday high of US$1.2947/EUR and settled the day 0.030% down at US$1.2927/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.2950-1.3040 targeting 1.2880-1.2740 and stop-loss with four-hour closing at 1.3060 might be appropriate; whereas, buying can be done above 1.2740-1.2800 targeting 1.2950-1.3060 and 1.3120 and stop-loss with four-hour closing below 1.2690.

 

 

GBP/USD on Monday made an intra‐day low of US$1.5085/GBP and made an intraday high of US$1.555/GBP and settled the day up by 0.231% at US$1.5096/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, might trade in the range of 1.5080-1.5140. Upside penetration might call for 1.5200, while a downward breakage might call for 1.5010. In our opinion is buying can be done 1.5030-1.5090 targeting 1.5170-1.5270 and 1.5350; stop-loss with four-hour closing below 1.500; whereas, selling the pair below 1.5170-1.5230 targeting 1.5190-1.5150 and stop-loss at four-hour closing above 1.5300.

 

 

USD/JPY on Monday made an intra‐day low ofJPY100.73/USD and made an intraday high of JPY101.28/USD and settled the day 0.063% down at JPY100.94/USD on session close.

Trading Strategy: Neutral

Based on today’s market, might trade in the range of 100.50-101.50. Upside penetration might call for 102, while a downward breakage might call for 99.80. In our opinion buying can be done 99.90-100.50 targeting 101.50-101.90 and 102.50-103.10 and stop-loss with four-hour closing below 99.80.

 

 

http://www.ikonmarkets.com/daily-reports/2013/05/28/

[Ajawed]

May 29, 2013

 

Gold (spot) closed up on Tuesday made its intraday high of US$1,401.94/ounce after setting intraday low of US$1,373.58/ounce. Gold went down by 0.975% at US$1,380.62/ounce.

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1394-1405; targeting 1384-1374 and 1369-1361, upside breakage of 1414 will lead to 1420-1426 and 1434-1445. Buy on dips at 1363-1374 with strict stop loss below 1360 1-hourly closing; targeting 1398-1405 and 1414-1420; break below 1353 will call for 1341-1336 and 1321.

 

 

Silver (spot) closed up Tuesday made its intraday high of US$22.65/ounce after setting intraday low of US$22.17/ounce. Silver settled 1.191% down at US$22.33/ounce.

Trading Strategy: Neutral to Sell on Strength

Might trade in the range of 22.05-22.85; upside penetration might call for 23.20, while a downward breakage might call for 21.80.Short positions at 22.60-23.20 with stop above 23.80; targeting 22.35-22.05 and 21.80-21.50, upside breakout of 23.80 will open the way to 24.20 and 24.60-24.90. Buyers can buy above 21.90-22.10, targeting 23.05-23.85 and 24.20-24.60 with risk below 21.0.

 

 

Crude futures (June 2013) on Tuesday made an intra‐day high of US$95.90/bbl and made an intraday low of US$93.52/bbl and settled up by 1.56% at US$95.04/bbl on session close.

Trading Strategy: Neutral

Based on today’s market, we prefer to short oil below 95.30-95.90, targeting 93.80-93.10 and 92.60. Stop loss with four-hour closing above 96.60. Buy above 93.10-94.05, using a stop loss of 92.60, targeting 94.60-95.70 and 96.30-97.05.

 

 

EUR/USD on Tuesday made an intra‐day low of US$1.2848/EUR and made an intraday high of US$1.2848/EUR and settled the day 0.564% down at US$1.2854/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.2880-1.2950 targeting 1.2740-1.2680 and stop-loss with four-hour closing at 1.3060 might be appropriate; whereas, buying can be done above 1.2740-1.2800 targeting 1.2950-1.3060 and 1.3120 and stop-loss with four-hour closing below 1.2680.

 

 

GBP/USD on Tuesday made an intra‐day low of US$1.5037/GBP and made an intraday high of US$1.5134/GBP and settled the day down by 0.390% at US$1.5037/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, in our opinion is buying can be done 1.4975-1.5010 targeting 1.5080-1.5170 and 1.5270; stop-loss with four-hour closing below 1.4960; whereas, selling the pair below 1.5080-1.5170 targeting 1.5190-1.5150 and stop-loss at four-hour closing above 1.5300.

 

 

USD/JPY on Tuesday an intra‐day low of JPY100.90/USD and made an intraday high of JPY 102.49/USD and settled the day 1.39% up at JPY102.35/USD on session close.

Trading Strategy: Neutral

Based on today’s market, in our opinion buying can be done 100.90-101.50 targeting 101.90 and 102.50-103.10 and stop-loss with four-hour closing below 99.80.

 

 

http://www.ikonmarkets.com/daily-reports/2013/05/29/

[Ajawed]

May 30, 2013

 

Gold (spot) closed up on Wednesday made its intraday high of US$1,395.15/ounce after setting intraday low of US$1,379.97/ounce. Gold went up by 0.860% at US$1,392.32/ounce.

Trading Strategy: Neutral to Sell on Strength

Sell at strength at 1398-1405; targeting 1384-1374 and 1369-1361, upside breakage of 1414 will lead to 1420-1426 and 1434-1445. Buy on dips at 1374-1379 with strict stop loss below 1363 1-hourly closing; targeting 1398-1405 and 1414-1420; break below 1363 will call for 1353-1346 and 1341-1336.

 

 

Silver (spot) closed up Wednesday made its intraday high of US$22.52/ounce after setting intraday low of US$22.18/ounce. Silver settled 0.807% up at US$22.46/ounce.

Trading Strategy: Neutral to Sell on Strength

Might trade in the range of 22.05-22.85; upside penetration might call for 23.20, while a downward breakage might call for 21.80. Short positions at 22.60-23.20 with stop above 23.80; targeting 22.35-22.05 and 21.80-21.50, upside breakout of 23.80 will open the way to 24.20 and 24.60-24.90. Buyers can buy above 21.90-22.10, targeting 23.05-23.85 and 24.20-24.60 with risk below 21.0.

 

 

Crude futures (June 2013) on Wednesday made an intra‐day high of US$93.28/bbl and made an intraday low of US$92.71/bbl and settled down by 2.29% at US$92.87/bbl on session close.

Trading Strategy: Neutral

Based on today’s market, we prefer to short oil below 93.50-94.10, targeting 92.60 and 91.50. Stop loss with four-hour closing above 95.90. Buy above 92.60-92.30, using a stop loss of 91.50, targeting 94.60-95.70 and 96.30-97.05.

 

 

EUR/USD on Wednesday made an intra‐day low of US$1.2836/EUR and made an intraday high of US$1.2976/EUR and settled the day 0.653% up at US$1.2937/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, selling the pair below 1.2990-1.3060 targeting 1.2910-1.2880 and 1.2740-1.2680 and stop-loss with four-hour closing at 1.3090 might be appropriate; whereas, buying can be done above 1.2800-1.2890 targeting 1.2950-1.3060 and 1.3120 and stop-loss with four-hour closing below 1.2740.

 

 

GBP/USD on Wednesday made an intra‐day low of US$1.5070/GBP and made an intraday high of US$1.5144/GBP and settled the day up by 0.598% at US$1.5127/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, in our opinion is buying can be done 1.5050-1.5110 targeting 1.5170 and 1.5270; stop-loss with four-hour closing below 1.5000; whereas, selling the pair below 1.5190-1.5270 targeting 1.5150-1.5110 and 1.5050-1.4990 with stop-loss at four-hour closing above 1.5300.

 

 

USD/JPY on Wednesday an intra‐day low of JPY100.70/USD and made an intraday high of JPY 102.51/USD and settled the day 1.18% down at JPY101.14/USD on session close.

Trading Strategy: Neutral

Based on today’s market, in our opinion buying can be done 100.90-101.50 targeting 101.90 and 102.50-103.10 and stop-loss with four-hour closing below 99.80.

 

 

http://www.ikonmarkets.com/daily-reports/2013/05/30/

[Ajawed]

May 31, 2013

 

Gold (spot) closed up on Thursday made its intraday high of US$1,417.95/ounce after setting intraday low of US$1,388.61/ounce. Gold went up by 1.486% at US$1,413.64/ounce.

Trading Strategy: Neutral

Sell at strength at 1428-1439; targeting 1410-1403 and 1396-1384, upside breakage of 1441 will lead to 1453-1465. Buy on dips at 1396-1405 with strict stop loss below 1388 1-hourly closing; targeting 1414-1420 and 1431; break below 1388 will call for 1384-1374 and 1369-1363.

 

 

Silver (spot) closed up Thursday made its intraday high of US$23.11/ounce after setting intraday low of US$22.36/ounce. Silver settled 1.336% up at US$22.75/ounce.

Trading Strategy: Neutral

Might trade in the range of 22.30-23.20; upside penetration might call for 23.80, while a downward breakage might call for 21.80. Short positions at 23.05-23.40 with stop above 23.80; targeting 22.35-22.05 and 21.80-21.50, upside breakout of 23.80 will open the way to 24.20 and 24.60-24.90. Buyers can buy above 22.30-22.70, targeting 23.05-23.85 and 24.20-24.60 with risk below 21.80.

 

 

Crude futures (June 2013) on Thursday made an intra‐day high of US$93.96/bbl and made an intraday low of US$91.64/bbl and settled down by 0.71% at US$93.55/bbl on session close.

Trading Strategy: Neutral

Based on today’s market, we prefer to short oil below 93.50-94.10, targeting 92.60 and 91.50. Stop loss with four-hour closing above 95.90. Buy above 92.60-92.30, using a stop loss of 91.50, targeting 94.60-95.70 and 96.30-97.05.

 

 

EUR/USD on Thursday made an intra‐day low of US$1.2932/EUR and made an intraday high of US$1.3060/EUR and settled the day 0.824% up at US$1.3047/EUR on session close.

Trading Strategy: Neutral

Based on today’s market, buying can be done above 1.2910-1.2950 targeting 1.2950-1.3060 and 1.3120 and stop-loss with four-hour closing below 1.2880; whereas, selling the pair below 1.3060-1.3100 targeting 1.2910-1.2880 and 1.2740-1.2680 and stop-loss with four-hour closing at 1.3120 might be appropriate.

 

 

GBP/USD on Thursday made an intra‐day low of US$1.5108/GBP and made an intraday high of US$1.5235/GBP and settled the day up by 0.687% at US$1.5231/GBP on session close.

Trading Strategy: Neutral

Based on today’s market, in our opinion is buying can be done 1.5110-1.5160 targeting 1.5270-1.5330; stop-loss with four-hour closing below 1.5000; whereas, selling the pair below 1.5270-1.5330 targeting 1.5150-1.5110 and 1.5050-1.4990 with stop-loss at four-hour closing above 1.5400.

 

 

USD/JPY on Thursday an intra‐day low of JPY100.45/USD and made an intraday high of JPY 101.79/USD and settled the day 0.415% down at JPY100.71/USD on session close.

Trading Strategy: Neutral

Based on today’s market, in our opinion buying can be done 90.90-100.90 targeting 101.50-101.90 and 102.50-103.10 and stop-loss with four-hour closing below 99.80.

 

 

http://ikonmarkets.com/daily-reports/2013/05/31/