Day Trading Recomendations for Majors as on 22-4-2014.



GOLD :


Strong resistance and psychological level 1300 push down gold yesterday. No more bullish sentiments are expected. On the other hand 1281, yesterday low  is a key supported level.


1290.86 is daily pivot level, 1280.70  is a key support level for this metal and 1290.80 is a major resistance area. If 1281 breaks than the next target would be 1277 and 1250 respectively.

Recommendations:
 sell below 1295 expected targets 1283/80, Stop loss 1300, Break out Buy 1301
Supports:
1280.3500
1271.2400
1260.7300

Resistance:
1299.9700
1310.4800
1319.5900


GBPUSD

Sterling prices are moving with small gain and losses, since three days.  Last two days candles closed with no body and two spinning tops are formed at the top.

For day trading, 1.6795 is a daily pivot, 1.6775 is a key support area for this pair on breakage next target would be 1.6754. On the other hand 1.6816 is a major resistance level for this pair, on breakage next target would be 1.6855.
Dollar index is also in bullish trend , Daily graph is indicating a clear bullish trend. In h1 graph this instrument has crossed the SMA100 and is going in to bullish trend.
Recommendations:
 Sell below  1.6815, expected targets 1.6674/1.6750, stop loss 1.6840 BOB 1.6851
Support
1.6771
1.6750
1.6726

Resistance:

1.6816
1.6840
1.6861


EUR/USD:Sell:1.3810, TP1.3765, SL1.3845,BOB1.3854


CL: Sell104.28,TP103.80/40,SL104.58,BOB104.65

USD/JPY: Buy Above 102.20,TP102.75,SL101.90,BOS101.80

Important News: EUR: Consumer Confidence @ 07:00pm, USD Existing Home Sales, Richmond

Manufacturing Index @ 07:00pm                                                                                      BOB

stands for break out buy and BOS stands for Break out sell. When a stop loss hit, this pending order

will recover the loss. The TP for this limit should be equal to loss in first trade.
Do not hesitate to ask any question about this.

Views: 255

Comment by Gulam Hussain on April 22, 2014 at 9:45am

Mr. Usman. Thx for great analysis. G/U broken through 1.6816 now at around 1.6823. Will it go to 1.6855?

Comment by Srinivas dev on April 22, 2014 at 4:11pm

usman bhai  where do you see eurusd by  this weekend?

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