EurO & GoLD – TopsY TurvY - ApR 20

Euro is locked in a range, 200 pip bound trading is expecterd between 1.2980-13180 this week surviving dip below 1.30 due to poor US data, but all odds suggest that Euro’s upside will remain limited as sellers of currency will not hesitate to short Euro in the absence of any positive news from  the Euro-zone region.

Preferred strategy remains unchanged i.e, to sell Euro on the rise, as Europe has nothing positive to offer. In reality European financial market is hostage to every small news/event fearing some kind of bad news from the region would impact its market weather it is bond auction, bank capitalization, corporate result or any news related to politics.

Gold will remain under pressure, as Indian duty remained an unsettled issue until May 7 when it will be taken up in the parliament.

A word about Syria selling 15 pct gold of its gold is good news headline because 15 pct is almost equivalent to India’s daily purchase of gold in normal times.   

Talking of QE is a wishful thinking, I always say that such news always provide great trading opportunity. Basically such rumours are spread with a purpose to take advantage of the situation.

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Tags: http://asadcmka.blogspot.com/

Comment by ceasar on April 20, 2012 at 6:29am

Sir, What could be expected in AU... and what levels to watch out in Gold?

Comment by Vinod Perkash on April 20, 2012 at 7:05am

good morning sir.. where you seeing aud sir? and what is the good rate to sell gold?

Comment by asad rizvi on April 20, 2012 at 7:06am

Yes Jason, my original inter-bank foreign exchange & money market business has started picking up. I am also concentrating to be active on my BLOG, but sure if I can spare time unless productive...Thanks

Comment by victor charles on April 20, 2012 at 7:16am

Hello sir, what is the name of your blog? thanks for helping out here

Comment by asad rizvi on April 20, 2012 at 7:24am

Victor, it is not appropriate to tell the details of my personal BOLG and do publicity on Fx Street.Com, as it is against the norms. The world is too small, someday you will find me somewhere. Thanks ;-)

Comment by Muhammad Fahad on April 20, 2012 at 8:00am

you are right sir world is so small 

Comment by prem on April 20, 2012 at 8:02am

Hi sir

does it mean you want be visiting this site daily?

you have been so helpful to all of us

Comment by Muhammad Fahad on April 20, 2012 at 8:06am

but your blog is very useful for new traders you give great idea for market 

Comment by sowMa on April 20, 2012 at 8:36am

Hello Sir GBP breaks 1.6115 do you think this is todays top ? pair looking so strong , what news the pair looking, gb is in uptrend now , i think any sell order should be squared rite Sir thank you.

Comment by sowMa on April 20, 2012 at 8:41am

Hello Sir GBP breaks 1.6115 do you think this is todays top ? pair looking so strong , what news the pair looking, gb is in uptrend now , i think any sell order should be squared rite Sir thank you.

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