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Tuesday, October 15, 2013

Market Brief 16th Oct., 2013

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Gold slips in early Asian trading as the US budget impasse continues. While US lawmakers fail to break the deadlock the markets may turn choppy as the Oct. 17 debt-ceiling deadline approaches. Meanwhile, Fitch Ratings places US debt on watch for a downgrade as the US Treasury nears a cash crunch. Based on technical indicators Barclays says gold may move toward $1,235/oz. in the near term and then toward $1,208/oz. On the data slate there’s UK Claimant Count Rate; UK Jobless Claims Change; UK Average Weekly Earnings; UK ILO Unemployment Rate; UK Employment Change; Switzerland ZEW Survey; Euro-Zone CPI; US MBA Mortgage Applications; US Net Long-term TIC Flows; US NAHB Housing Market Index and US Federal Reserve Releases Beige Book.

SELL EUR @ 1.3550 OR BETTER – STOP @ 1.3625 – TARGET @ 1.3470 – no change
SELL GBP @ 1.5970 OR BETTER – STOP @1.6040 - TARGET @ 1.5890 – no change
BUY USD/JPY @ 98.50 OR BETTER – STOP @ 97.95 – TARGET @ 99.60 – no change
SELL CL1113 @ 101.50 OR BETTER – STOP @ 102.80 - TARGET @ 99.70
SELL XAU @ 1280 OR BETTER – STOP @ 1290 - TARGET @ 1250
SELL XAG @ 21.20 OR BETTER – STOP @ 21.70 – TARGET @ 20.50

GOOD LUCK AND HAPPY TRADING
PLS. NOTE:
1. ALWAYS REMEMBER TO PUT STOPS WHENEVER YOU TRADE, MARKETS ARE VERY VOLATILE.
2. THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY PROMISES OR GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS AND IT IS NOT FOR EVERYONE.



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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS 
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED. 
 Do your own due diligence. 
No one knows tomorrow's price or circumstance. 
 I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader. 
I do not accept responsibility for being incorrect in my speculations on market trend. 
 King Regards