Market Analysis Friday 03th of June

ANALYSIS 03-06-2013

Nikkei Closed Stronger, But Rally For 9 Months Ending

The Nikkei closed up 1.4% to 13,775, after falling 5.2% yesterday. But this month, the Nikkei declined for the first time since last 9 months, the Nikkei fell 0.6% this month. While the Topix adding 0.1%.

Technically, the index in the trading session today, Monday (03/06) is likely to strengthen, test positive trend. On the M15 chart bullish hammer berformasi provide opportunities for the index to move upside. However, the volume is likely to increase, as well as an early indication of a bullish index. In addition, RSI, on the M15 chart, is in the oversold area, cue upside.

Expected, the index tested the first resistance level of 14171 and 14611. If it fails in 13525, we then estimated the index tends to retest the support level of 13036 and continued up to the possibility of being in the 12610 area.

Euro Gains, ECB Expects Positive Signals

Euro in trading last week generally observed trend higher against the U.S. Dollar. Trade the currency pair EUR / USD is in the range of 1.2935 after opening at the beginning of the trading week has climbed about 62 pips or about + + 0:47% and closed at around 1.2997.

Technically, today’s trading session on Monday (03/06), the pair euro dollar likely to move in a positive trend.

A stronger Euro is mainly expected to soon re-test the resistance at 1.3138 minimum and maximum 1.3230. Meanwhile, if the Euro was unable to break and stays below 1.2992 then another alternative scenario the Euro likely to test support at the 1.2859 area and 1.2759.

Gold Drops the Most in 2 Weeks as Fed stimulus speculation

Gold futures fell the furthest in 2 weeks with the U.S. consumer confidence rose in May, the highest in nearly 6 years, sparking concern the Federal Reserve will keep monetary stimulus

Technically, gold at today’s trading session on Monday (03/06) potentially bearish, test returned negative trend, but prone to reversal. RSI indicator tends to re-test support channel and towards the oversold area, but Bollinger Band which began to widen, thus giving impetus to gold to the upside.

Estimated gold price immediately prior to test support at least in the area of ​​1365.27 and re-test the maximum level of 1347.06. However, if the price of gold is able to break and hold above 1393.20 then estimated the price of gold could potentially test the Resistance 1417.28 and 1437.43.