View on Major Currencies & Commodities 26th Dec, 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO on Friday on Friday which opened at 1.3050 was trading in the range of 1.3100 as resistance and support is seen at 1.3020 where range bound move as seen. Today as the European and US market are closed due to Christmas its expected to be no movement in market and will be waiting for the week to get over for next trend in market. So its advisable to stay away from the market and rather enjoy the year end. Stochastic are turned negative and nearing the oversold zone and is expected to trade side way to negative after opening after the Christmas.

GBP/USD: British Pound on Friday which opened at 1.5675 failed to trade above 1.5700 and after testing the lower level of 1.5585 closing was seen near days low at 1.5588 level. Today as the European and US market are closed due to Christmas its expected to be no movement in market and will be waiting for the week to get over for next trend in market. So its advisable to stay away from the market and rather enjoy the year end. Stochastic are turned negative and nearing the oversold zone and is expected to trade side way to negative after opening after the Christmas.

AUD/USD: Australian Dollar on Fridays after the opening at 1.0129 was trading in the range of 1.0200 as resistance and support was seen at 1.0120 and after the range bound move trading was seen positive at 1.0148 level. Today as the European and US market are closed due to Christmas its expected to be no movement in market and will be waiting for the week to get over for next trend in market. So its advisable to stay away from the market and rather enjoy the year end. Stochastic are turned negative and nearing the oversold zone and is expected to trade side way to negative after opening after the Christmas.

NZD/USD: Newzeland Dollar on Friday after opening at 0.7743 failed to trade above 0.7760 and on lower side it tested the level of 0.7715 where 0.7700 was support level. Today as the European and US market are closed due to Christmas its expected to be no movement in market and will be waiting for the week to get over for next trend in market. So its advisable to stay away from the market and rather enjoy the year end. Stochastic are turned negative and nearing the oversold zone and is expected to trade side way to negative after opening after the Christmas.

USD/JPY: Japanese Yen on Friday after opening at 78.16 failed to trade above 78.2 and on lower side support was seen at 78 and closing was just near the support level. Today as the European and US market are closed due to Christmas its expected to be no movement in market and will be waiting for the week to get over for next trend in market. So its advisable to stay away from the market and rather enjoy the year end. Stochastic are turned negative and nearing the oversold zone and is expected to trade side way to negative after opening after the Christmas.

VIEW ON MAJOR COMMODITIES

Gold: Gold on Friday after taking support of 1600$ as trading in the range whereon higher side it failed to cross 1615$ and support was seen at 1600$ as the International market are having holiday its expected to trading in the range where not much move is expected. Today opening was seen flat around 1605$ and is trading at 1604$ where it’s trading in the range of 1610$ resistance on closing basis and support of 1598$ on closing basis, and either side move on closing basis will confirm the trend. In short term time frame some range bound move is expected where 1620$ is resistance and 1570 will be the support level in medium term. On higher side at 1620$ is crossed will bring to 1640$, where as if its holding the resistance level will bring the price to move test the lower support of 1540$ on lower side and further trading below 1540$ will continue the down trend on market where 1440$ will be tested in medium term. Stochastic has just popped out above the overbought zone where short room is getting generating before the next down side move which is expected if sustain trading below 1600 on closing basis.

Silver: Silver on Friday after opening at 29.06$ support as taken at 29$ and after testing the higher level of 29.42 closing was seen flat around the level of 29.05$. Today after the opening at 29.08$ trading range is expected of 29.2$ resistance and support will be seen at 29$ and sustain trading below the same will give move towards 28.8 – 28.5 immediately, as the support is holding strongly in past few trading session. Whereas further trading below 28$ will bring to 26$ – 24$ in near to medium term. On higher side only on closing basis above 30 - 31$ will hamper the bearish outlook in silver where it will test 39$ on higher side. Stochastic has just neared the oversold zone around 20% and is trading flat indicating if the resistance is holding and if the price trade below 28$ will bring to next support of 24$ in near term.

Brent Crude oil: Brent Crude on Friday after the opening at 107.79$ was trading in the range where on higher side it failed to cross the level of 108.5$ and on lower side support was seen at 107$ and closing was just positive at 107.97$. Today as the European and US market are closed due to Christmas its expected to be no movement in market and will be waiting for the week to get over for next trend in market. So its advisable to stay away from the market and rather enjoy the year end. Stochastic has near he overbought zone where some side wait and watch for the week end is advise.

Copper: Copper after the positive opening at 7455 after taking support of 4730 traded positive and tested the level of 7500 and closing was also seen at days high. Today as the European and US market are closed due to Christmas its expected to be no movement in market and will be waiting for the week to get over for next trend in market. So its advisable to stay away from the market and rather enjoy the year end. Stochastic has near he overbought zone where some side wait and watch for the week end is advise.

Report By:-
xDirect India

View on Major Currencies & Commodities 20th Dec 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO yesterday after the opening at 1.3035 failed to trade above 1.3050 and on lower side it tested the level of 1.2982 where 1.2980 was the support taken and closing was also seen near the days low at 1.2995 level. Today’s opening was seen at 1.2996 level and taking the higher resistance of 1.3030 is trading at 1.3010 and expect to trade negative in the range of 1.3050 and 1.2900 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above and cross 1.3050 and is expected to test 1.2850 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.

GBP/USD: British Pound yesterday after the opening at 1.5523 was trading in the range where on higher side resistance was seen at 1.5541 and on lower side support was seen at 1.5466 level where closing was seen negative 1.5495 level. Today the opening was seen flat around the level of 1.5496 and taking support of 1.5480 is trading at 1.5540 level and expected trading range will be 1.5580 – 1.5450. Further trading below 1.5450 will continue the down trend where 1.5400 to 1.5350 will be immediate target. On higher side immediate resistance is seen at 1.5580 and crossover above the same will move to test 1.5650 to 1.5750 again. Till the time 1.5580 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUD/USD: Australian Dollar yesterday after the opening was seen at 0.9920 failed to trade positive and tested the lower level of 0.9880 and closing was also seen near the lower level of 0.9894 level. Today after positive opening around 0.9893 it fails to cross higher resistance of 1.0000 and is trading at 0.9940 where immediate resistance is seen at 0.9950 and if trading is seen below 0.9900 will move to test 0.9840 and 0.9800 immediately. On higher side sustain trading above immediate resistance level of 0.9980 will bring to 1.0100 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar yesterday after the opening at 0.7634 traded negative and tested the lower level of 0.7940 and closing was also seen negative at 0.7548 levels. Today the opening was seen sideway at 0.7549 taking support of 0.7500 it is trading at 0.7585 levels where on higher side resistance is seen at 0.7650 and till the time its holding the same selling at rise is expected and will test 0.7440 to 0.7350 in near term. We expected some range bound to down side move in market where 0.7500 is resistance and support is seen at 0.7350 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 77.97 after testing lower level of 77.62 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.9 and is trading just above 77.65 near 77.86 levels where support is seen at 77.5 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.5 on lower side. Stochastic has given positive intersection where side way move in price can be expected.

VIEW ON MAJOR COMMODITIES

Gold: Gold yesterday was trading in the tight range where on higher side it failed to sustain above 1608$ where 1610$ was the resistance and on lower side it took a support of 1583 where 1580 was support level. Today opening was seen positive around 1593$ and is trading at 1598$ where it’s trading near the resistance level of 1605$ and till the time 1605$ is holding we expect it to test 1580$ and 1540$ to be tested immediately. In short term time frame some range bound move is expected where 1620$ is resistance and 1570 will be the support level. On higher side at 1605$ is crossed will bring to 1620$, where as if its holding the resistance level will bring the price to move test the lower support of 1540$ on lower side and further trading below 1540$ will continue the down trend on market where 1470$ will be tested. Stochastic has just popped out above the overbought zone where short room is getting generating before the next down side move which is expected if sustain trading below 1580 on closing basis.

Silver: Silver yesterday after positive opening at 29.72 failed to cross the higher resistance of 30$ and tested the lower level of 28.66 where closing was seen at days low of 28.74 level. Today after the opening at 28.75 it has taken the previous days low as support of 28.66 and is trading at 28.98 $ where immediate resistance is seen at 29$ and if fails to cross the higher resistance and sustain trading below 28.8 will bring to 28 $ in near term, where as further trading below 28 will bring to 26 – 24 in near to medium term. On higher side only on closing basis above 31$ will hamper the bearish outlook in silver where it will test 39$ on higher side. Stochastic has just neared the oversold zone around 20% and is trading flat indicating if the resistance is holding and if the price trade below 28$ will bring to next support of 24$ in near term.

Brent Crude oil: Brent Crude yesterday after the opening was seen at 102.8 has taken support @ 102.2 and reversal was seen in the price where on higher side it tested the level of 104.55 level and closing was seen at 103.45 level. Today after he opening was seen gap up around the level of 104.1 tested the level of 104.44 failing to cross the previous days high and is trading around the level of 103.9 days low where its expected to trade and over to test 103.2 and 102.5 immediately, further trading below 102.5 will being to 100.5 and 98 in near term. Crossover above 105$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 111$. If sustain trading below 102.5$ will open the door for 101 to 98$ on lower side till the time 105$ is holding for the day. Stochastic is trading flat to negative in the mid zone where is turned negative and is expected to move towards the 15% where some more down side can be seen in the price in coming days.

Copper: Copper after the gap down opening at 7230 was trading in the range where on lower side support was seen at 7200 and on higher side resistance was seen at 7300 where closing was flat at 7250 level. Today we look side way to negative trend to continue where will test 7200 level soon and only if the resistance of 7400 break will continue the uptrend where it will test 7150 – 7050 level immediately. Stochastic has turned negative and is just drifted below oversold zone where it is just below 20% zone where further price action will bring it towards oversold zone.

Report By
xDirect India

View on Major Currencies & Commodities 19th Dec, 2011

VIEW ON MAJOR CURRENCY


EUR/USD: EURO on Friday was trading I the range of 1.2995 lower supports and on higher side resistance was seen at 1.3085 and closing was flat to positive at 1.3035 level. Today’s opening was seen at 1.3030 level and taking the higher resistance of 1.3050 is trading at 1.3000 and expect to trade negative in the range of 1.3050 and 1.2800 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above and cross 1.3150 and is expected to test 1.2800 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.

GBP/USD: British Pound on Friday was trading in the range of 1.5480 lower side support and resistance was seen at 1.5555 level. Today the opening was seen flat around the level of 1.5225 and taking support of 1.5460 is trading at 1.5490 level and expected trading range will be 1.5550 – 1.5400. Further trading below 1.5450 will continue the down trend where 1.5400 to 1.5350 will be immediate target. On higher side immediate resistance is seen at 1.5550 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5550 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUS/USD: Australian Dollar on Friday which open at 0.9980 failed totrade below 0.9890 and after testing the higher level of 1.0025 clsoing was seen at 0.9965 level. Today after positive opening around 0.9986 it fails to cross higher resistance of 1.0000 and is trading at 0.9920 where immediate resistance is seen at 0.9950 and if trading is seen below 0.9900 will move to test 0.9840 and 0.9800 immediately. On higher side sustain trading above immediate resistance level of 0.9980 will bring to 1.0100 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar on Friday opening at 0.7527 failed to trade below 0.7500 and after testing the higher level of 0.7650 closing was seen at 0.7600 level. Today the opening was seen positive at 0.7635 taking support of 0.7570 it is trading at 0.7595 level where on higher side resistance is seen at 0.7650 and till the time its holding the same selling at rise is expected and will test 0.7440 to 0.7350 in near term. We expected some range bound to down side move in market where 0.7500 is resistance and support is seen at 0.73500 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 77.97 after testing lower level of 77.62 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.9 and is trading just above 77.65 near 77.86 levels where support is seen at 77.5 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.5 on lower side. Stochastic has given positive intersection where side way move in price can be expected.

VIEW ON MAJOR COMMODITIES


Gold: Gold on Friday after the opening at 1605 failed to trade below1570$ and reversal in price was seen and after testing the days high of 1601$ closing was seen at 1597$ which was just below the resistance level of 1600$. Today opening was seen positive around 1602$ and is trading at 1588$ where it’s trading near the support level of 1580$ and till the time 1600$ is holding we expect it to test 1550$ and 1540$ to be tested immediately. On higher side at 1600$ where if it holding the resistance level will bring the price to move test the lower support of 1540$ on lower side and further trading below 1540$ will continue the down trend on market where 1470$ will be tested. Stochastic has entered in the oversold zone and is still moving down side where if the support level is crossed will further move lower and will indicate down trend to continue.

Silver: Silver on Friday which opened at 29.25$ tested the lower level of 29.08 where it failed to cross the lower level of 29 and reversal in price were seen where it tested the higher level of 29.89 and closing was also seen at 29.62$ just facing resistance at 30$. Today after the flat opening at 28.9$ it is trading at 28.5$ where on lower side support is taken at 28 $ and next support is coming at 26$. If sustain trading is seen below 28$ will test the lower level of 26$ to 24$ immediately, where as only crossover above 31$ on closing basis will bring to 35$ next resistance level. On higher side only on closing basis above 31$ will hamper the bearish outlook in silver where it will test 39$ on higher side. Stochastic has just neared the oversold zone around 20% and is trading flat indicating if the resistance is holding and if the price trade below 28$ will bring to next support of 24$ in near term.

Brent Crude oil: Brent Crude on Friday where the positive opening was seen at 104.23$ from the previous closing of 103.2$ after testing the fresh low of 102.4$ reversal in price were seen and closing was seen at 103.74 after testing the days high of 104.52$. Today after gap down opening at 102.87 failed to cross the higher resistance of 103 and is trading at 102.6 $ where below 102.4$ is support if broken further down side move can be expected. Crossover above 105$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 111$. If sustain trading below 102.5$ will open the door for 101 to 98$ on lower side till the time 105$ is holding for the day. Stochastic is trading flat to negative in the mid zone where is turned negative and is expected to move towards the 25% where some more down side can be seen in the price in coming days.

Copper: Copper yesterday after the gap up opening at 7307 tested the higher resistance of 7400 and closing was seen flat around the level of 7300 where on lower side support was seen at 7260 level. Today we look side way to negative trend to continue where will test 7250 level soon and only if the resistance of 7400 break will continue the uptrend where it will test 7150 – 7450 level immediately. Today expected to give opening near to 7250 and expected trading range will be 7600 to 7300 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic has turned negative and is just drifted below overbought zone where it is just below 20% zone where further price action will bring it towards oversold zone.

Report By
xDirect India

View on Major Currencies & Commodities 15th Dec, 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO yesterday after the opening was seen at 1.3030 failed to trade above 1.3050 and after crossing the lower support of 1.3000 it gave further selling where on lower side it tested the level of 1.2950 just testing support of 1.2950 and closing was seen at 1.2980 at days low. Today’s opening was seen at 1.2980 level and taking the lower support of 1.2950 is trading at 1.3010 and expect to trade negative in the range of 1.3050 and 1.2800 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above and cross 1.3150 and is expected to test 1.2800 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.
GBP/USD: British Pound yesterday after the opening at 1.5480 failed to trade above 1.5550 and later part of trading session it tested the lower level of 1.5400 and closing was seen at 1.5465 level. Today the opening was seen flat around the level of 1.5465 and taking support of 1.5420 is trading at 1.5490 level and expected trading range will be 1.5550 – 1.5400. Further trading below 1.5450 will continue the down trend where 1.5400 to 1.5350 will be immediate target. On higher side immediate resistance is seen at 1.5550 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5550 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUD/USD: Australian Dollar yesterday after the opening at 1.0014 level failed to sustain above 1.0050 level and closing was seen at 0.9908 where days low was posted at 0.9880 previous days low was seen. Today after flat opening around 0.9910 it fails to cross the lower support of 0.9860 and is trading at 0.9910 where immediate resistance is seen at 0.9950 and if trading is seen below 0.9900 will move to test 0.9840 and 0.9800 immediately. On higher side sustain trading above immediate resistance level of 0.9980 will bring to 1.0100 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar yesterday after the opening at 0.7565 failed to trade above 0.7600 and after crossing the lower support of 0.7550 it tested the lower level of 0.7480 support and closing was seen at 0.7502 level. Today the opening was seen flat at 0.7502 taking support of 0.7460 it is trading at 0.7495 level where on higher side resistance is seen at 0.7550 and till the time its holding the same selling at rise is expected and will test 0.7440 to 0.7350 in near term. We expected some range bound to down side move in market where 0.7500 is resistance and support is seen at 0.73500 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 77.97 after testing lower level of 77.62 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.9 and is trading just above 77.65 near 77.86 levels where support is seen at 77.5 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.5 on lower side. Stochastic has given positive intersection where side way move in price can be expected.


VIEW ON MAJOR COMMODITIES


Gold: Gold yesterday after the opening at 1666$ failed to trade above 1630$ and after crossing the support level of 1625$ it tested the level of 1563$ and closing was also seen near the lower level of 1574$. Today opening was seen flat around 1577$ and is trading at 1575$ where its trading near the support level of 1562$ and till the time 1600$ is holding we expect it to test 1550$ and 1540$ to be tested immediately. On higher side at 1600$ where if it holding the resistance level will bring the price to move test the lower support of 1540$ on lower side and further trading below 1540$ will continue the down trend on market where 1470$ will be tested. Stochastic has entered in the oversold zone and is still moving down side where if the support level is crossed will further move lower and will indicate down trend to continue.

Silver: Silver yesterday after opening at 30.75$ continued to down trend where on higher side it resistance was seen at 31$ and after crossing the level of 30.5 it moved and tested the lower level of 28.5$ and closing was just above the support level of 28$ around 28.7$. Today after the flat opening at 28.9$ it is trading at 28.5$ where on lower side support is taken at 28 $ and next support is coming at 26$. If sustain trading is seen below 28$ will test the lower level of 26$ to 24$ immediately, where as only crossover above 31$ on closing basis will bring to 35$ next resistance level. On higher side only on closing basis above 31$ will hamper the bearish outlook in silver where it will test 39$ on higher side. Stochastic has just neared the oversold zone around 10% and is trading flat indicating if the resistance is holding and if the price trade below 28$ will bring to next support of 24$ in near term.

Brent Crude oil: Brent Crude yesterday after sideway opening at 108.5 $ and failed to cross the higher resistance of 109$ and trading was seen negative where on lower side it tested the lower level of 104$ and closing was also seen at 104$. Today after gap up opening at 105 failed to cross the higher resistance of 105.5 and is trading at 105.35$ where below 105$ is support if broken further down side move can be expected. Crossover above 107$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 111$. If sustain trading below 105$ will open the door for 102 to 98$ on lower side till the time 107$ is holding for the day. Stochastic is trading flat to negative in the mid zone where is turned negative and is expected to move towards the 25% where some more down side can be seen in the price in coming days.

Copper: Copper yesterday after the gap down opening at 7485 traded below the support level of 7500 and tested the low of 7130 and closing was just seen near 7200 level where immediate support is seen at 6700. If sustain trading is seen below 7100 on closing basis will open the door for 6900 and 6300 level soon. Today we look side way to negative trend to continue where will test 7100 level soon and only if the resistance of 7300 break will continue the uptrend where it will test 8200 – 8550 level immediately. Today expected to give opening near to 7500 and expected trading range will be 7600 to 7300 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic has turned negative and is just drifted below overbought zone where it is just below 20% zone where further price action will bring it towards oversold zone.

Report By
xDirect India

View on Major Currencies & Commodities 14th Dec, 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO yesterday after the opening was seen at 1.3170 failed to trade above 1.3200 and after crossing the lower support of 1.3160 it gave further selling where on lower side it tested the level of 1.3008 just testing support of 1.3000 and closing was seen at 1.3033 at days low. Today’s opening was seen at 1.3033 level and taking the lower support of 1.3000 is trading at 1.3045 and expect to trade negative in the range of 1.3100 and 1.2900 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above and cross 1.3250 and is expected to test 1.3050 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.

GBP/USD: British Pound yesterday after the opening at 1.5580 failed to trade above 1.5650 and later part of trading session it tested the lower level of 1.5445 and closing was seen at 1.5480 level. Today the opening was seen flat around the level of 1.5480 and taking support of 1.5450 is trading at 1.5490 level and expected trading range will be 1.5550 – 1.5400. Further trading below 1.5450 will continue the down trend where 1.5400 to 1.5350 will be immediate target. On higher side immediate resistance is seen at 1.5550 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5550 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUD/USD: Australian Dollar yesterday after the opening at 1.0070 level failed to sustain above 1.0200 level and closing was seen at 1.0015 where days low was posted at 0.9977 previous days low was seen. Today after flat opening around 1.0015 it fails to cross the lower support of 0.9980 and is trading at 1.0025 where immediate resistance is seen at 1.0080 and if trading is seen below 1.0010 will move to test 0.9940 and 0.9900 immediately. On higher side sustain trading above immediate resistance level of 1.0250 will bring to 1.0500 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar yesterday after the opening at 0.7625 failed to trade above 0.7670 and after crossing the lower support of 0.7600 it tested the lower level of 0.7550 support and closing was seen at 0.7566 level. Today the opening was seen flat at 0.7565 taking support of 0.7530 it is trading at 0.7565 level where on higher side resistance is seen at 0.7600 and till the time its holding the same selling at rise is expected and will test 0.7480 to 0.7400 in near term. We expected some range bound to down side move in market where 0.7700 is resistance and support is seen at 0.7500 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 77.97 after testing lower level of 77.62 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.9 and is trading just above 77.65 near 77.86 levels where support is seen at 77.5 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.5 on lower side. Stochastic has given positive intersection where side way move in price can be expected.

VIEW ON MAJOR COMMODITIES

Gold: Gold yesterday after the opening at 1666$ failed to trade above 1680$ and after crossing the support level of 1655$ it tested the level of 1622$ and closing was also seen near the lower level of 1620$. Today opening was seen flat around 1630$ and is trading at 1637$ where its trading below the support level of 1625$ and till the time 1655$ is holding we expect it to test 1600$ and 1580$ to be tested immediately. On higher side at 1655$ where if it holding the resistance level will bring the price to move test the lower support of 1605$ on lower side and further trading below 1600$ will continue the down trend on market where 1550$ will be tested. Stochastic has entered in the oversold zone and is still moving down side where if the support level is crossed will further move lower and will indicate down trend to continue.

Silver: Silver yesterday after opening at 31.2$ continued to down trend where on higher side it resistance was seen at 32$ and after crossing the level of 31 it moved and tested the lower level of 30.4$ and closing was just above the support level of 30.5$ around 30.7$. Today after the flat opening at 30.75$ it is trading at 30.9$ where on lower side support is taken at 30.5 $ and next support is coming at 30$. If sustain trading is seen below 31$ will test the lower level of 30.4$ to 30$ immediately, where as only crossover above 33$ on closing basis will bring to 35$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 39$ on higher side. On lower side immediate support is seen at 31$ where sustain trading below the same will bring to 30 to 28$ in near to medium term. Stochastic has just neared the mid zone around 40% and is trading flat indicating if the resistance is holding and if the price trade below 31$ will bring to next support of 30$ in near term.

Brent Crude oil: Brent Crude yesterday after sideway opening at 107.11$ and failed to cross the lower support of 107$ and trading was seen positive where on lower side it tested the higher level of 111$ and closing was also seen at 109.4$. Today after gap down opening at 108.5 failed to cross the higher resistance of 109.5 and is trading at 108.7$ where below 108.5$ is support if broken further down side move can be expected. Crossover above 110$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 115$. If sustain trading below 107$ will open the door for 105.5 to 103$ on lower side till the time 112$ is holding for the day. Stochastic is trading flat to negative in the mid zone where is turned negative and is expected to move towards the 25% where some more down side can be seen in the price in coming days.

Copper: Copper yesterday after the Flat opening at 7580 @ traded below the support level of 7550 and tested the low of 7500 and closing was just seen near 7533 level where immediate support is seen at 7500. If sustain trading is seen below 7500 on closing basis will open the door for 7400 and 7300 level soon. Today we look side way to negative trend to continue where will test 7300 level soon and only if the resistance of 7700 break will continue the uptrend where it will test 8200 – 8550 level immediately. Today expected to give opening near to 7500 and expected trading range will be 7600 to 7300 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic has turned negative and is just drifted below overbought zone where it is just below 70% zone where further price action will bring it towards oversold zone.

Report By
xDirect India

View on Major Currencies & Commodities 13th Dec, 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO yesterday after the opening was seen at 1.3360 failed to trade above 1.3380 and after crossing the lower support of 1.3300 it gave further selling where on lower side it tested the level of 1.3162 just testing the previous bottom of 1.3150 and closing was seen at 1.3167 at days low. Today’s opening was seen at 1.3170 level and taking the lower support of 1.3150 is trading at 1.3192 and expect to trade negative in the range of 1.3250 and 1.3050 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above and cross 1.3250 and is expected to test 1.3050 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.

GBP/USD: British Pound yesterday after the opening at 1.5640 failed to trade above 1.5650 and later part of trading session it tested the lower level of 1.5535 and closing was seen at 1.5577 level. Today the opening was seen flat around the level of 1.5575 and taking support of 1.5550 is trading at 1.5620 level and expected trading range will be 1.5680 – 1.5500. Further trading below 1.5550 will continue the down trend where 1.5500 to 1.5420 will be immediate target. On higher side immediate resistance is seen at 1.5665 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5665 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUD/USD: Australian Dollar yesterday after the opening at 1.0200 level failed to sustain above 1.0200 level and closing was seen at 1.0070 where days low was posted at 1.0050 previous days low was seen. Today after flat opening around 1.0070 it fails to cross the lower support of 1.0020 and is trading at 1.0090 where immediate resistance is seen at 1.0150 and if trading is seen below 1.0060 will move to test 0.9940 and 0.9900 immediately. On higher side sustain trading above immediate resistance level of 1.0250 will bring to 1.0500 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar yesterday after the opening at 0.7745 failed to trade above 0.7750 and after crossing the lower support of 0.7700 it tested the lower level of 0.7600 support and closing was seen at 0.7626 level. Today the opening was seen flat at 0.7627 taking support of 0.7600 it is trading at 0.7645 level where on higher side resistance is seen at 0.7700 and till te time its holding the same selling at rise is expected and will test 0.7550 to 0.7400 in near term. We expected some range bound to down side move in market where 0.7700 is resistance and support is seen at 0.7500 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 7709 after testing lower level of 77.54 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.9 and is trading just above 77.65 near 77.86 levels where support is seen at 77.5 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.5 on lower side. Stochastic has given positive intersection where side way move in price can be expected.

VIEW ON MAJOR COMMODITIES
Gold: Gold yesterday after the opening at 1713$ failed to trade above 1720$ and after crossing the support level of 1703 – 1700 $ it tested the level of 1656$ and closing was also seen near the lower level of 1665$. Today opening was seen flat around 1665$ and is trading at 1652$ where its trading below the support level of 1655$ and till the time 1680$ is holding we expect it to test 1620$ and 1605$ to be tested immediately. On higher side at 1675$ where if it holding the resistance level will bring the price to move test the lower support of 1605$ on lower side and further trading below 1600$ will continue the down trend on market where 1550$ will be tested. Stochastic has entered in the oversold zone and is still moving down side where if the support level is crossed will further move lower and will indicate down trend to continue.

Silver: Silver yesterday after opening at 32.2$ continued to down trend where on higher side it resistance was seen at 32.5$ and after crossing the level of 32.4 it moved and tested the lower level of 30.85$ and closing was just above the support level of 31$ around 31.27$. Today after the flat opening at 31.25$ it is trading at 31.03$ where on lower side support is taken at 31 $ and next support is coming at 30$. If sustain trading is seen below 31$ will test the lower level of 30.4$ to 30$ immediately, where as only crossover above 33$ on closing basis will bring to 35$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 39$ on higher side. On lower side immediate support is seen at 31$ where sustain trading below the same will bring to 30 to 28$ in near to medium term. Stochastic has just neared the mid zone around 40% and is trading flat indicating if the resistance is holding and if the price trade below 31$ will bring to next support of 30$ in near term.

Brent Crude oil: Brent Crude yesterday after the gap down opening at 108.4$ and failed to cross the higher resistance of 108.8$ and trading was seen negative where on lower side it tested the lower support of 107$ and closing was also seen at days low of 107.4$. Today after gap down opening at 107.3 failed to cross the higher resistance of 107.5 and is trading negative at days low at 107.2$ where below 107$ is support if broken further down side move can be expected. Crossover above 109$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 115$. If sustain trading below 107$ will open the door for 105.5 to 103$ on lower side till the time 112$ is holding for the day. Stochastic is trading flat to negative in the mid zone where is turned negative and is expected to move towards the 25% where some more down side can be seen in the price in coming days.

Copper: Copper yesterday after the gap down opening at 7630 @ traded below the support level of 7300 and tested the low of 7523 and closing was just seen near 7574 level where immediate support is seen at 7500. If sustain trading is seen below 7500 on closing basis will open the door for 7400 and 7300 level soon. Today we look side way to negative trend to continue where will test 7300 level soon and only if the resistance of 7700 break will continue the uptrend where it will test 8200 – 8550 level immediately. Today expected to give opening near to 7500 and expected trading range will be 7600 to 7300 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic has turned negative and is just drifted below overbought zone where it is just below 70% zone where further price action will bring it towards oversold zone.

Report By
xDirect India

View on Major Currencies & Commodities 12th Dec, 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO on Friday closing was seen at 1.3360 days low where on higher side it failed to cross the level of 1.3385 and was facing resistance at 1.3400 level. Today’s opening was seen at 1.3360 level and taking the higher resistance of 1.3380 is trading at 1.3342 and expect to trade negative in the range of 1.3380 and 1.3200 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above to cross 1.3400 and is expected to test 1.3200 – 1.3050 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.

GBP/USD: British Pound on Friday yesterday after opening was seen at 1.5655 traded negative and tested the lower level of 1.5630 and closing was seen at days low just near the support level of 1.5600 and in past few trading session we are looking in range bounce move with multiple support of 1.5580 on closing basis. Today the opening was seen flat around the level of 1.5645 and taking support of 1.5600 is trading at 1.5630 level and expected trading range will be 1.5750 – 1.5450. Further trading below 1.5600 will continue the down trend where 1.5500 to 1.5420 will be immediate target. On higher side immediate resistance is seen at 1.5725 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5725 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUD/USD: Australian Dollar on Friday closing was seen at 1.0166 where on higher side resistance was faced at 1.0200 level and on lower side support was seen at 1.0150 level. Today after flat opening around 1.0166 it fails to cross the lower support of 1.0150 and is trading at 1.0180 where immediate resistance is seen at 1.0200 and if trading is seen below 1.0150 will move to test 0.9940 and 0.9900 immediately. On higher side sustain trading above immediate resistance level of 1.0300 will bring to 1.0500 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar on Friday after testing the lower support of 0.7635 reversals in price was seen where closing was seen at the higher level of 0.7750 levels. Today the opening was seen flat at 0.7750 and is trading negative at 0.77250 levels and trading in the range for the day where on higher side it’s not crossing 0.7780 and on lower side support is seen at days low of 0.7700 level, further trading below 0.7700 will open the door for 0.7640 to 0.7550 level in near term. We expected some range bound to down side move in market where 0.7850 is resistance and support is seen at 0.7630 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 77.71 after testing lower level of 77.6 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.72 and is trading just above 77.65 near 77.7 levels where support is seen at 77.2 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.2 on lower side. Stochastic has given negative intersection where side way move in price can be expected.


VIEW ON MAJOR COMMODITIES
Gold: Gold on Friday which gave a closing near 1710$ tested the lower support of 1703$ where failed to cross the lower level of 1700$ and we have been waiting for 1680 as the support is broken. Today opening was seen flat around 1713$ and is trading at 1692$ where its trading below the support level of 1700$ and till the time 1700$ and 1705$ is holding we expect it to test 1680$ and 1660$ to be tested immediately. On higher side immediate resistance is seen at 1725$ where if it holding the resistance level will bring the price to move test the lower support of 1680 and 1660$ on lower side and further trading below 1660 will continue the down trend on market where 1625 will be tested. On lower side it is expected to move further down if support of 1600 is broken and will test the lower support of 1640 to 1600$ support level in medium term. Stochastic which are trading in the mid zone is trading flat with positive intersection indicates if the resistance is holding and support are broken below 1700$ will continue to profit booking.

Silver: Silver on Friday where the lower support was taken at 31.3$ closing was seen near the days high of 32.3$ where it has been continuing it trading range of 33$ resistance and 31$ support., Today after the flat opening at 32.2$ it is trading at 31.57$ where on lower side support is taken at 31.4$ and next support is coming at 31$. If sustain trading is seen below 31.4$ will test the lower level of 31$ to 30.5$ immediately, where as only crossover above 33$ on closing basis will bring to 35$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 39$ on higher side. On lower side immediate support is seen at 31$ where sustain trading below the same will bring to 30 to 28$ in near to medium term. Stochastic has just neared the mid zone around 40% and is trading flat indicating if the resistance is holding and if the price trade below 31$ will bring to next support of 30$ in near term.

Brent Crude oil: Brent Crude on Friday closing was seen at 108.7$ where on lower side support was taken at 108.3$. on higher side immediate resistance is seen at 109$ and till the time this resistance is holding we expect it to trade below 108$ and will move to test 106 – 102$ on lower side. Today after gap down opening at 1044 failed to cross the higher resistance of 109 and is trading negative at days low at 108.15$ where below 108$ is support if broken further down side move can be expected. Crossover above 109$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 115$. If sustain trading below 108$ will open the door for 105.5 to 103$ on lower side till the time 112$ is holding for the day. Stochastic is trading flat to negative in the mid zone where is turned negative and is expected to move towards the 25% where some more down side can be seen in the price in coming days.

Copper: Copper on Friday failed to cross the lower support of 7600 and reverted from 7616 and on higher side closing was seen at 7793 just below the resistance of 7800 level and its expected trading range will be 7900 resistance and support of 7600 where either side move will further confirm the trend in market. If sustain trading is seen below 7650 on closing basis will open the door for 7500 and 7300 level soon. Today we look side way to negative trend to continue where will test 7300 level soon and only if the resistance of 8000 break will continue the uptrend where it will test 8200 – 8550 level immediately. Today expected to give opening near to 7600 and expected trading range will be 7700 to 7300 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic has turned negative and is just drifted below overbought zone where it is just below 70% zone where further price action will bring it towards oversold zone.

Report By
xDirect India

View on Major Currencies & Commodities 9th Dec, 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO yesterday tested the lower level of 1.3288 and after testing the same short bounce was seen and closing was seen around the level of 1.3340 level just negative from the opening level. Today’s opening was seen at 1.3401 level and taking the higher support of 1.3380 is trading at 1.3342 and expect to trade negative in the range of 1.3380 and 1.3200 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above to cross 1.3400 and is expected to test 1.3200 – 1.3050 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.

GBP/USD: British Pound yesterday after opening was seen at 1.5706 traded negative and tested the lower level of 1.5607 and closing was seen at 1.5620 just near the support level of 1.5600 and in past few trading session we are looking in range bounce move with multiple support of 1.5580 on closing basis. Today the opening was seen flat around the level of 1.5625 and taking support of 1.5580 is trading at 1.5602 level and expected trading range will be 1.5750 – 1.5450. Further trading below 1.5600 will continue the down trend where 1.5500 to 1.5420 will be immediate target. On higher side immediate resistance is seen at 1.5725 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5725 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUS/USD: Australian Dollar in the past few trading session is trading in the range of 1.0150 supports and resistance is seen at 1.0300 where yesterday traded below the support and tested the level of 1.0080 where down side is confirm. Today after flat opening around 1.0110 it fails to cross the higher resistance of 1.0120 and is trading at 1.0090 where immediate support is seen at 1.0050 and if trading is seen below 1.0050 will move to test 0.9940 and 0.9900 immediately. On higher side sustain trading above immediate resistance level of 1.0300 will bring to 1.0500 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar in the past few trading session is trading in the range where on lower side support which was seen at 0.7730 is broken and resistance was holding at 0.7850 level. Today the opening was seen flat at 0.7726 and is trading negative at 0.7660 level and trading in the range for the day where on higher side it’s not crossing 0.7730 and on lower side support is seen at days low of 0.7650 level, further trading below 0.7650 will open the door for 0.7610 to 0.7550 level in near term. We expected some range bound to down side move in market where 0.7850 is resistance and support is seen at 0.7630 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 77.71 after testing lower level of 77.6 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.72 and is trading just above 77.65 near 77.7 levels where support is seen at 77.2 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.2 on lower side. Stochastic has given negative intersection where side way move in price can be expected.VIEW ON


VIEW ON MAJOR COMMODITIES

Gold: Gold yesterday’s which opened at 1742 and after testing the higher level of 1756 in the evening sharp reversal in prices were seen and it moved lower after the data and tested the support of 1700$ and just gave a closing near the level of 1706$. Today opening was seen flat around 1706$ and is trading at 1710$ where the resistance is seen at 1720$ and if it’s holding the resistance of 1720$ and trading below 1700$ will bring to 1680 – 1655$ on lower side. On higher side immediate resistance is seen at 1735$ where if it holding the resistance level will bring the price to move test the lower support of 1700 and 1690$ on lower side and further trading below 1690 will confirm the down trend on market where1655 will be tested. On lower side it is expected to move further down if support of 1700 is broken and will test the lower support of 1640 to 1600$ support level in medium term. Stochastic which are trading in the mid zone is trading flat with positive intersection indicates if the resistance is holding and support are broken below 1700$ will continue to profit booking.

Silver: Silver yesterday which gave a gap down opening around 32.5$ was trading in the range in the Asian market where in the US session it tested the higher level of 33.2$ just above the resistance of 33$ and sharp selloff was seen in the market where on lower side it traded and tested the level of 31.38 and closing was also seen near 31.65$ level. Today after the flat opening at 31.57$ it is trading at 31.68$ where on lower side support is taken at 31.4$ and next support is coming at 31$. If sustain trading is seen below 31.4$ will test the lower level of 31$ to 30.5$ immediately, where as only crossover above 33$ on closing basis will bring to 35$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 39$ on higher side. On lower side immediate support is seen at 31$ where sustain trading below the same will bring to 30 to 28$ in near to medium term. Stochastic has just neared the mid zone around 40% and is trading flat indicating if the resistance is holding and if the price trade below 31$ will bring to next support of 30$ in near term.

Brent Crude oil: Brent Crude yesterday which opened at the level of 109.35$ in the evening tested the higher level of 110.6$ and reverted shapely where on lower side tested the level of 107.3$ and closing as also near the day’s low. Today after positive opening near 107.5$ is nearing the resistance of 108 and is trading flat after yesterday fall where if trading below 107 will bring further down. Crossover above 109$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 115$. If sustain trading below 107$ will open the door for 105.5 to 103$ on lower side till the time 112$ is holding for the day. Stochastic is trading flat in the mod zone where is turned negative and is expected to move towards the 25% where some more down side can be seen in the price in coming days.

Copper: Copper yesterday after flat opening at 7790 failed to cross the resistance level of 7900 and tested the lower level of 7660 and closing was also near the day’s low. If sustain trading is seen below 7650 will open the door for 7500 and 7300 level soon. Today we look side way to negative trend to continue where will test 7300 level soon and only if the resistance of 8000 break will continue the uptrend where it will test 8200 – 8550 level immediately. Today expected to give opening near to 7600 and expected trading range will be 7700 to 7300 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic has turned negative and is just drifted below overbought zone where it is just below 70% zone where further price action will bring it towards oversold zone.

Report By
xDirect India

View on Major Currencies & Commodities 2nd Dec, 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO yesterday was trading in the range where on higher side it failed to cross the resistance if 1.3520 and long lower side support was seen at 1.3400, closing was seen atr 1.3460 just positive from the days opening. Today’s opening was seen at 1.3460 level and taking the higher resistance of 1.3500 is trading at 1.3460 and expect to trade negative in the range of 1.3500 and 1.3320 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above to cross 1.3500 and is expected to test 1.3400 – 1.3320 in medium terms. Stochastic which has given a down trend is nearing the lower zone below 30% moving to enter oversold zone indicating further selling to continue in near term.

GBP/USD: British Pound yesterday after opening was seen at 1.5695 traded in the range of 1.5750 as resistance and support was seen at 1.5630 where closing was flat at the opening level 1.5685 level. Today the opening was seen flat around the level of 1.5685 and taking resistance of 1.5720 is trading at 1.5680 level and expected trading range will be 1.5750 – 1.5600. Further trading below 1.5600 will continue the down trend where 1.5500 to 1.5420 will be immediate target. On higher side immediate resistance is seen at 1.5725 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5725 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUS/USD: Australian Dollar yesterday which opened at 1.0277 levels tested the lower level support at 1.0150 and closing was seen at 1.0240 after testing the higher resistance at 1.0330 levels. Today after flat opening around 1.0240 it fails to cross the higher resistance of 1.0250 and is trading at 1.0210 where immediate support is seen at 1.0150 and if trading is seen below 1.0150 will move to test 1.0060 and 0.9960 immediately. On higher side sustain trading above immediate resistance level of 1.0300 will bring to 1.0500 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar yesterday which opens near the resistance level of 0.7800 and tested the support level of 0.7700 and closing was seen at 0.7790 levels just near the resistance level. Today the opening was seen flat at 0.7790 and is trading flat at 0.7790 level and trading in the range for the day where on higher side it’s not crossing 0.7830 and on lower side support is seen at days low of 0.7770 level, further trading below 0.7750 will open the door for 0.7710 to 0.7650 level in near term. We expected some range bound to down side move in market where 0.7850 is resistance and support is seen at 0.7750 and selling at rise is advice in near term. Stochastic are showing sign of reversal from the higher zone but yet not given negative intersection where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 77.68 after testing lower level of 77.4 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.6 and is trading just above 77.65 near 77.7 levels where support is seen at 77.2 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.2 on lower side. Stochastic has given negative intersection where side way move in price can be expected.

VIEW ON MAJOR COMMODITIES

Gold: Gold yesterday’s was trading in the range of 1733$ support and resistance was seen at 1750$ after testing the level of 1733$ it tested 1748$ and closing was seen at 1745$. Today opening was seen flat around 1745$ and is trading at 1743$ where the resistance is seen at 1750$ and if it’s holding the resistance of 1750$ and trading below 1740$ will bring to 1735 – 1710$ on lower side. On higher side immediate resistance is seen at 1750$ where if it holding the resistance level will bring the price to move test the lower support of 1710 and 1700$ on lower side and further trading below 1700 will confirm the down trend on market. On lower side it is expected to move further down if support of 1700 is broken and will test the lower support of 1640 to 1600$ support level in medium term. Stochastic which are trading in the mid zone is trading flat with positive intersection indicates if the resistance is holding and support are broken below 1745$ will give short profit booking.

Silver: Silver yesterday after opening at 32.8$ was trading in the range, where on higher side it tested the level of 33.41$ and lower side it moved and test 32.45$ closing was seen at 32.71$ just below 33$ mark. Today after the flat opening at 32.73$ it is trading at 32.81$ where on lower side support is taken at 32.5$ and next support is coming at 32$. If sustain trading is seen below 32.5$ will test the lower level of 31$ to 30.5$ immediately, where as only crossover above 33$ on closing basis will bring to 35$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 39$ on higher side. On lower side immediate support is seen at 31$ where sustain trading below the same will bring to 30 to 28$ in near to medium term. Stochastic has just neared the mid zone around 40% and is trading flat indicating if the resistance is holding and if the price trade below 32$ will bring to next support of 30$ in near term.

Brent Crude oil: Brent Crude yesterday after flat opening at 110.5$ fails to trade above 111.5$ where reverted from 111.3$ and tested the lower level of 108.2$ and closing was seen at 108.8$ in negative zone. Today after positive opening near 109.3$ is nearing the resistance of 110 and is trading is seen flat where some more down side move is expected and may test 106$ immediately. Crossover above 111$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 115$. If sustain trading below 108$ will open the door for 106 to 103$ on lower side till the time 112$ is holding for the day. Stochastic is trading in the mid zone is trading flat and is expected to move towards the lower zone below 10% where some more selling can be seen in the price in coming days.

Copper: Copper yesterday after flat opening at 7818 failed to cross the resistance of 7850 and tested the lower level of 7740 and closing was also near the day’s low. If sustain trading is seen below 7700 will open the door for 7500 and 7300 level soon. Today we look side way to negative trend to continue where will test 7300 level soon and only if the resistance of 8000 break will continue the uptrend where it will test 8200 – 8550 level immediately. Today expected to give opening near to 7800 and expected trading range will be 7900 to 7500 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic have turned upside nearing overbought zone and is just below 70% zone where further price action if trade above 8000 will bring in overbought zone.

Report  By
xDirect India

View on Major Currencies & Commodities 1st December, 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO yesterday was quite volatile where during US market after the news of World central bank providing liquidity in the financial market where share reversal in price was seen and where the trading was seen at 1.3330 shapely rose to 1.3530 level and closing was seen at 1.3440 level. Today’s opening was seen at 1.3440 level and taking the higher resistance of 1.3470 is trading at 1.3450 and expect to trade negative in the range of 1.3480 and 1.3320 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above to cross 1.3500 and is expected to test 1.3400 – 1.3320 in medium terms. Stochastic which has given a down trend is nearing the lower zone below 30% moving to enter oversold zone indicating further selling to continue in near term.

GBP/USD: British Pound yesterday after opening was seen at 1.5610 tested the lower support level of 1.5520 levels but failed to trade below 1.5480 and traded to test the higher level of 1.5770 and closing was just seen at 1.5700 levels. Today the opening was seen flat around the level of 1.5695 and taking resistance of 1.5720 is trading at 1.5680 level and expected trading range will be 1.5750 – 1.5600. Further trading below 1.5600 will continue the down trend where 1.5500 to 1.5420 will be immediate target. On higher side immediate resistance is seen at 1.5725 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5725 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.

AUD/USD: Australian Dollar yesterday which opened at 0.9999 levels tested the lower level support at 0.9960 and closing was seen at 1.0277 after testing the higher resistance at 1.0330 levels. Today after flat opening around 1.0277 it fails to cross the higher resistance of 1.0300 and is trading at 1.0210 where immediate support is seen at 1.0150 and if trading is seen below 1.0120 will move to test 1.0060 and 0.9960 immediately. On higher side sustain trading above immediate resistance level of 1.0300 will bring to 1.0500 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.

NZD/USD: Newzeland Dollar yesterday which opens near the lower level of 0.7607 tested the support level of 0.7570 and closing was seen at 0.7800 levels just near the resistance level. Today the opening was seen flat at 0.7790 and is trading negative at 0.7780 level and trading in the range for the day where on higher side it’s not crossing 0.7830 and on lower side support is seen at days low of 0.7750 level, further trading below 0.7750 will open the door for 0.7710 to 0.7650 level in near term. We expected some range bound to down side move in market where 0.7850 is resistance and support is seen at 0.7750 and selling at rise is advice in near term. Stochastic are showing sign of reversal from the higher zone but yet not given negative intersection where if price trade below support level correction may be seen of recent sharp rally.

USD/JPY: Japanese Yen yesterday closing was seen at 77.6 after testing lower level of 77.23 where it’s trading negative and in range bound move where 78.5 was almost retested. Today opening was seen at 77.6 and is trading just above 77.65 near 77.7 levels where support is seen at 77.2 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.2 on lower side. Stochastic has given negative intersection where side way move in price can be expected.

Currency pair	Pivot	S3	S2	S1	R1	R2	R3	Trend Index
EUR/USD	1.3450	1.3390	1.3412	1.3430	1.3470	1.3490	1.3510	Down
GBP/USD	1.5695	1.5630	1.5650	1.5670	1.5715	1.5735	1.5770	Down
AUD/USD	1.0225	1.0095	1.0140	1.0179	1.0265	1.0310	1.0350	Down
NZD/USD	0.7780	0.7725	0.7742	0.7765	0.7804	0.7822	0.7844	Down
USD/JPY	77.62	77.30	77.39	77.53	77.76	77.85	77.99	Sideway

VIEW ON MAJOR COMMODITIES

Gold: Gold yesterday’s was trading in the range of 1700$ support and resistance was seen at 1720 after testing the level of 1720 t\it tested 1711$ and after the news of Central bank increasing liquidity gold crossed the higher resistance of 1720$ and tested the higher level of 1750$ resistance level. Today opening was seen flat around 1748$ and is trading at 1746$ where the resistance is seen at 1750$ and if it’s holding the resistance of 1750$ and trading below 1745$ will bring to 1735 – 1710$ on lower side. On higher side immediate resistance is seen at 1750$ where if it holding the resistance level will bring the price to move test the lower support of 1710 and 1700$ on lower side and further trading below 1700 will confirm the down trend on market. On lower side it is expected to move further down if support of 1700 is broken and will test the lower support of 1640 to 1600$ support level in medium term. Stochastic which are trading in the mid zone is trading flat with positive intersection indicates if the resistance is holding and support are broken below 1745$ will give short profit booking.

Silver: Silver yesterday after opening at 31.92$ tested the lower level of 31$ but failed to trade below 31$ and in the later part of the evening after the news reversal in price was seen and days high was posted at 32.91 and closing was seen near days high at 32.78. Today after the flat opening at 32.80$ it is trading at 32.66$ where on lower side support is taken at 32.5$ and next support is coming at 32$. If sustain trading is seen below 32.5$ will test the lower level of 31$ to 30.5$ immediately, where as only crossover above 33$ will bring to 35$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 39$ on higher side. On lower side immediate support is seen at 31$ where sustain trading below the same will bring to 30 to 28$ in near to medium term. Stochastic has just neared the mid zone around 40% and is trading flat indicating if the resistance is holding and if the price trade below 32$ will bring to next support of 30$ in near term.

Brent Crude oil: Brent Crude yesterday after flat opening at 110.8$ fails to trade below 109.5$ and tested the higher level of 112$ and closing was seen at 110.2$ in negative zone. Today after positive opening near 110.55 is nearing the resistance of 111 and is trading at 110.8$ where some more upside is expected and may test 112$ immediately. Crossover above 112$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 115$. If sustain trading below 110$ will open the door for 108.5 to 106$ on lower side till the time 112$ is holding for the day. Stochastic is trading in the mid zone is trading flat and is expected to move towards the lower zone below 10% where some more selling can be seen in the price in coming days.

Copper: Copper yesterday after gap down opening at 7288 tested the lower support of 7250 and later part of the market sharp reversal in price was seen and it traded at 7955 days high and closing was seen at 7823 level. If sustain trading is seen below 7700 will open the door for 7500 and 7300 level soon. Today we look side way to negative trend to continue where will test 7300 level soon and only if the resistance of 8000 break will continue the uptrend where it will test 8200 – 8550 level immediately. Today expected to give opening near to 7800 and expected trading range will be 7900 to 7500 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic have turned upside nearing overbought zone and is just below 70% zne where further price action if trade above 8000 will bring in overbought zone.

Commodity	Pivot	S3	S2	S1	R1	R2	R3	Trend Index
Gold	1746	1716	1731	1738	1752	1761	1776	Down
Silver	32.67	31.87	32.27	32.43	32.83	33.07	33.47	Down
Crude	110.78	109.78	110.28	110.57	111.07	111.28	111.78	Sideway
Copper	7854	7510	7682	7755	7926	8030	8200	Sideway

Report By:
xDirect India

View on Major Currencies & Commodities 24th Nov, 2011

VIEW ON MAJOR CURRENCY

EUR/USD: EURO yesterday which opened at 1.3516 level failed to cross the higher resistance level of 1.3550 and moved towards the lower support level of 1.3440 and further trading below the same was seen and it tested the level of 1.3320 on lower side where closing was seen at 1.3345 level. Today’s opening was seen at 1.3344 level and taking the lower support of 1.3320 is trading positive giving short bounce in market where its trading at 1.3370 and expect to trade in the range of 1.3415 and 1.3330 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above to cross 1.3450 and is expected to test 1.3350 – 1.3200 in medium terms. Stochastic which has given a down trend is nearing the lower zone below 30% moving to enter oversold zone indicating further selling to continue in near term.

 GBP/USD: British Pound yesterday after open at1.5640 level failed to move up and selling continued throughout the day where lower level was tested at 1.5490 and closing was seen at 1.5525 levels where 1.5480 was the support taken. Today the opening was seen flat around the level of 1.5525 and taking support of 1.5500 is trading at 1.5550 level and expected trading range will be 1.5600 – 1.5480. Further trading below 1.5525 will continue the down trend where 1.5480 to 1.5440 will be immediate target. On higher side immediate resistance is seen at 1.5570 and crossover above the same will move to test 1.5640 to 1.57000 again. Till the time 1.5700 is holding on closing basis short correction can be expected. Stochastic which were trading in oversold zone has turned negative and is trading below 20% zone where some fall in price may be expected soon

AUS/USD: Australian Dollar yesterday after the flat opening at 0.9835 failed to trade above 0.9850 level and after trading below the support of 0.9800 tested the days low of 0.9650 where support was tested at 0.9650 and closing was seen at lower level at 0.9685 level. Today after flat opening around 0.9685 it fails to cross the lower support of 0.9650 and is trading at 0.9725 where immediate resistance is seen at 0.9780 and if trading is seen below 0.9520 will move to test 0.9480 and 0.9420 in near term. On higher side sustain trading above immediate resistance level of 0.9780 will bring to 0.9860 level. Stochastic has given negative intersection just below over sold zone where down side move can be expected.

NZD/USD:  Newzeland Dollar yesterday opening was seen at 0.7470 level and tested days high of 0.7502 but later part of the session it failed to higher level and tested lower level of 0.7280 and closing was also seen near days low at 0.7395 level. Today the opening was seen at 0.7396 and is trading positive at 0.7430 level and trading in the range for the day where on higher side its not crossing 0.7460 and on lower side support is seen at days low of 0.7380 level, further trading below 0.7400 will open the door for 0.7380 to 0.7320 level in near term. We expected some range bound to down side move in market where 0.7500 is resistance and support is seen at 0.7450 and selling at rise is advice in near term. Stochastic has reentered in oversold zone and is just hovering below 20% area where negative intersection will bring further selling.

USD/JPY:  Japanese Yen yesterday closing was seen at 77.28 after testing higher level of 77.6 where it’s trading positive and in range bound move where 77.5 can be retested. Today opening was seen at 77.3 and is trading just above 77 near 77.11 level where support is seen at 76.95 on lower side. Trading range can be seen for the day where 77.2 will be higher side resistance and support is seen at 76.8 on lower side. Stochastic has given positive intersection where side way move in price can be expected.

Currency pair	Pivot	S3	S2	S1	R1	R2	R3	Trend Index
EUR/USD	1.3360	1.3308	1.3320	1.3345	1.3380	1.3395	1.3415	Down
GBP/USD	1.5535	1.5480	1.5500	1.5525	1.5565	1.5570	1.5590	Down
AUD/USD	0.9740	0.9695	0.9715	0.9725	0.9750	0.9760	0.9770	Down
NZD/USD	0.7435	0.7400	0.7420	0.7425	0.7740	0.7750	0.7760	Down
USD/JPY	77.15	76.56	76.8	76.92	77.3	77.51	77.65	Sideway

VIEW ON MAJOR COMMODITIES
Gold: Gold yesterday where the opening was seen flat around 1700$ failed to trade above 1710$ and after testing the resistance level moved down and tested the days low of 1677$ where support was seen at 1675$, closing was seen near the level of 1691$. Today opening was seen flat around 1691$ and is trading in the range of 1695 $ resistance and support is seen at 1685$ and either side move will further confirm the trend in market. On higher side immediate resistance is seen at 1710$ where if it holding the resistance level will bring the price to move test the lower support of 1665 and 1660$ on lower side and further trading below 1660 will confirm the down trend on market. On lower side it is expected to move further down if support of 1690 is broken and will test the lower support of 1640 to 1600$ support level in medium term. Stochastic has entered in oversold zone where further price movement will confirm the trend where sustain below 20% zone will bring to 10% where lower target can be tested.


Silver: Silver in the past few trading session is trading in the wide range with lower top and lower bottom formation where on lower side recent low was posted at 30.57$ and closing was seen at 31.68$ where on higher side resistance is seen at 33$ level. Today after sideway opening at 31.7$ it is trading at 31.78$ where if sustain trading is seen below 31.5$ will test the lower level of 31$ to 30.5$ immediately, where as only crossover above 33$ will bring to 35$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 39$ on higher side. On lower side immediate support is seen at 31$ where sustain trading below the same will bring to 30 to 28$ in near to medium term. Stochastic has just neared to the lower level below 30% nearing oversold zone where if price drift below 30$ will bring to lower level where further selling in price may be seen.

Brent Crude oil: Brent Crude on yesterday after opening at 108.35$ failed to trade above 109$ and tested the lower level of 106.8$ where closing was seen above 107$ at 107.1$. Today after positive opening near 107.33 failed to cross 107 and is trading at 107.38$ where some more upside is expected and may test 108$ immediately. Crossover above 110$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 117$. If sustain trading below 107$ will open the door for 106 to 102$ on lower side till the time 109$ is holding for the day. Stochastic has drifted below 20% zone is trading flat and is expected to move towards the lower zone below 10% where some more selling can be seen in the price in coming days.

Copper:  Copper yesterday after gap down opening at 7265 tested the lower support of 7110 and closing was also seen near the days low at 7218 level. If sustain trading is seen below 7200 will open the door for 7000 and 6800 level soon. Today we look side way to negative trend to continue where will test 7100 level soon and only if the resistance of 7400 break will continue the uptrend where it will test 7700 – 7750 level immediately. Today expected to give opening near to 7200 and expected trading range will be 7300 to 7100 where selling is advise on every rise till the time resistance is holding at 7600. Stochastic are trading near the oversold zone where some down side move can be expected in near term.

Commodity	Pivot	S3	S2	S1	R1	R2	R3	Trend Index
Gold	1692	1676	1684	1689	1697	1700	1708	Down
Silver	31.74	30.85	31.3	31.6	32.05	32.2	32.65	Down
Crude	107.5	106.77	107.13	107.3	107.67	107.85	108.2	Down
Copper	7200	7040	7120	7170	7250	7280	7360	Down

Report by:
xDirect India