Market Analysis of Wednesday 10th April 2013

ANALYSIS 10-04-2013

Positive Today’s Nikkei index, boosted by a decline in Yen

Japanese shares for trading on Tuesday closed up. The impact of the yen weakened against the U.S. dollar strengthening factor markets. Today the yen traded at 99.35 per dollar, its lowest level since May 2009. Yen loss in performance triggered by the Bank of Japan policy which continues to suppress deflation.

Technically, the index in the trading session today, Wednesday (10/04) likely to weaken, test negative trends, the impact of Wall Street. On the M15 chart bearish engulfing berformasi provide opportunities for the index to move downside. However, the volume is likely to increase, an early indication of bullish index. In addition, RSI, on the M15 chart, is in the oversold area, cue upside.

Expected, the index tested the first support level ie 13145 and 13106. If it fails in 13195, we then estimated the index tends to retest the resistance level of 13249 and continued up to the possibility of being in the area of ​​13 287.

                         

Accompanied by the increase in tension in Korea Swiss Franc Gains

On the movement of U.S. forex session on Tuesday, the U.S. dollar exchange rate generally indicates downward movement against the Swiss Franc. In trading USDCHF pair opened at 0.9340 in early trading (00:00 GMT), the currency has dropped about -23 pips or about -0.24% and the news was revealed during rolling was observed in the value of 0.9317.

Technically, the trading session today, Wednesday (10/04), chf pair dollar chance to move in a negative trend.

Chf especially weakening is expected soon reexamine the minimum support at 0.9252 and 0.9211 maximum. Meanwhile, if Chf able to break and hold above 0.9323, then the alternative scenario that Chf another chance to test the existing Resistance 0.9367 and 0.9409 area.

                       

Antam Potentially Rebound Gold Bars, Gold Spot Start Rally

Commodity trading session on Tuesday night America, gold in the spot market showed upward movement after opening at 1571.57 USD / tr oz in early trading (00:00 GMT). The commodity has gained about + 13.79 USD / tr oz or approximately + 0.87%, and at the time of this story down scrolling value was observed in the range of 1585.36 USD / tr oz.

Technically, gold in the trading session today, Wednesday (10/04) potential reversal, tested positive trend, but prone to profit taking. Indicator RSI resistance likely to re-test the bullish channel and into the area, but the Bollinger Bands are starting to shrink, thus giving impetus to gold to the downside.

Estimated gold price immediately prior to test resistance at least in the area of ​​1598.37 and re-test the maximum level of 1606.65. However, if the gold price could not break and stays below 1584.85 then estimated the price of gold has the potential to test Support the 1574.71 and 1565.84.