Market Analysis Monday 3rd of July

 Gold slips as a stronger dollar

ANALYSIS 03-07-2013

Post-Holiday, Hong Kong Exchanges Closed Down

Hong Kong shares to trading on Tuesday recorded a decline. Post-holiday trading yesterday, the Hong Kong stock market has become weaker due to a negative sentiment about the decline in China’s manufacturing sector data for the month of May.

Technically, the index in the trading session today, Wednesday (03/07) 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 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 20745 and 20793. If it fails at 20 660, then the index is expected to tend to test the next support level ie 20 599 back and continued up to the possibility of being in the area of ​​20 543.

Dollar Translucent Again Above Resistance Level

The dollar rose against various major currencies marked USDJPY pairing breakout above 100.00 level for the first time in the last month while the EURUSD testing 1.3000 psychological level in 5 consecutive days.

Technically, the trading session today, Wednesday (03/07), the pair euro dollar likely to move in a negative trend.

The weakening Euro is mainly expected to immediately reexamine the minimum support at 1.2852 and 1.2764 maximum. Meanwhile, if the euro is able to break and hold above 1.2970, then another alternative scenario the chance to test Euro Resistance at 1.3059 and 1.3147 area.

Gold Slips As A stronger dollar

Gold edged lower on Tuesday as the dollar strengthened and investors looking for further indications that the Federal Reserve may soon put an end to the U.S. stimulus program.

Technically, gold at today’s trading session on Wednesday (03/07) 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 ​​1211.34 and re-test the maximum level of 1183.54. However, if the price of gold is able to break and hold above 1244.30 then estimated the price of gold could potentially test the Resistance 1273.01 and 1299.98.

Market Analysis Friday 28th of June

1.5 Percent Loss?

Hang Seng Index ended strengthened Follow Asian Stock More

Hong Kong stock exchange yesterday ended the day Thursday. Strengthening sufficiently constant movement distinction exchange trading condition Thursday remembering yesterday covered by positive sentiment coming from a majority of strengthening Asian bourses and U.S. stock exchange yesterday. Investors also quite passionate in doing the action and purchase of shares, especially banking stocks and fares.

Technically, the index on the trading session today, Friday (28/06) have the opportunity to strengthen, test positive trend. On the H1 chart bullish hammer formation provides an opportunity for the index to move upside. However, the volume tends to increase, as well as an early indication bulish index. In addition, RSI, on the H1 chart, selling in saturated areas, signal upside.

Partly, the index test prior resistance level that is 21 481 and 22155. If failed in the 20549, the estimated index tend to test further back level Support ie 19 877 and the possibility of being extended to 19 202 in the area.

Consumer sentiment shore Euro Rebound

Yielding euro rebounded against the U.S. Dollar concomitant improvement in economic confidence the 17-nation bloc that transcends economists predicted. Executive and consumer sentiment index rose to 91.3 in June from 89.5 in May, according to the European Commission in Brussels, the better-than-estimated 90.4. Euro also benefited by U.S. data, which tends to erode the reduction speculation the Federal Reserve’s monetary stimulus in the near future.

Technically, today’s trading session on Friday (28/06), the pair euro dollar opportunity to move in a positive trend.

Strengthening of the Euro, especially predicted back soon test resistance at 1.3205 ie the minimum and maximum of 1.3328. And as, if the Euro is not able to break below 1.3036 and then endure another alternative scenario ie the Euro had the opportunity to test Support at 1.2896 and 1.2773 area.

Gold Closes Down By 1.5 Percent Loss

Gold futures on the COMEX division of the New York Mercantile Exchange fell on Thursday (Friday morning hrs), extending the decline to 34-month low, as U.S. economic data exceed analyst estimates, scraping metal attractiveness as a store of value.

Technically, gold trading session today on Friday (28/03) potentially bearish, test returned negative trend, but prone to reversal. RSI indicators tend to re-test Support channel oversold area and heading, but Bollinger Bands are beginning to widen, thus providing the impetus for gold for upside.

Chance of gold price immediately prior to test Support at least in the area of ​​re-test 1139.10 and 1106.72 maximum level. But if the price of gold is able to break above 1191.50 and defending the gold price estimated potential test resistance ie 1227.15 and 1261.93.

Market Analysis Thursday 27th of June

Gold yesterday touched the lowest level

Strengthening Thin End Successfully Kospi Index Bearish Trend

South Korean shares for trading on Wednesday ended an increase. As well as trading in South Korean stock markets caused by the increase in the volume of stock purchases due to the conducive trade in Asian stock markets after the rise in U.S. stocks overnight. Aggressive investors are back in the hunt for shares of exporters.

Technically, the index in the trading session today, Thursday (27/06) is likely to strengthen, test positive trend. On the bullish hammer formation M30 chart gives an opportunity for the index to move upside. However, the volume is likely to increase, as well as an early indication of bullish index. In addition, RSI, on the M30 chart, is in the oversold area, cue upside.

Expected, the index tested the first resistance level of 250.36 and 254.05. If it fails at 245.55, then the next index is expected to tend to retest the 241.90 support level and continue up the possibility of being in the 238.37 area.

Euro Burdened By Draghi Policy Attitudes

The euro slumped to a 3-week lows versus the U.S. dollar after European Central Bank President Mario Draghi highlighted the risk of slowing growth in the Euro zone and ensure monetary policy will remain accommodative.

Technically, the trading session today, Thursday (27/06), the pair euro dollar likely to move in a negative trend.

The weakening Euro is mainly expected to immediately reexamine the minimum support at 1.2837 and 1.2699 maximum. Meanwhile, if the euro is able to break and hold above 1.3025, then another alternative scenario the chance to test Euro Resistance at 1.3147 and 1.3262 area.

Worst Performance Gold In 1st Quarter

Gold yesterday touched the lowest level of the last was three years ago, and to the worst record in the quarter decreased, due to the strong dollar, the potential improvement in U.S. economic data, strengthening of global stock markets, and lack of physical demand for gold. In the second quarter, gold has dropped about 23%, the worst performance of gold in a single quarter since 1968 according to Reuters. Goldman Sachs and HSBC also cut its outlook for the gold price this year-end and year-end 2014.

Technically, gold at today’s trading session on Thursday (27/06) 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 ​​1205.88 and re-test the maximum level of 1182.18. However, if the price of gold is able to break and hold above 1238.55 then estimated the price of gold could potentially test the Resistance 1261.93 and 1285.27.

Market Analysis Wednesday 26th of June

Positive economic data to increase market expectations

Nikkei fizzled, China Economic Concerns

Japanese stock exchange to trade Tuesday closed yesterday weakened by fears will shape China’s banking sector in line with the stress that the central bank should immediately remove policy stimulus in order to maintain China’s economy amid the economic slowdown predicted for this year. The need for the availability of a stimulus policy is not much different from the Japanese economy despite the Bank of Japan stated there can be no stimulus in the short term.

Technically, the index on the trading session today, Wednesday (26/06) chance to weaken, test negative trends, browse Wall Street. On the bearish engulfing formation M15 chart provides an opportunity for the index to move downside. However, the volume tends to rise, early indications bulish index. In addition, RSI, on the M15 chart, selling in saturated areas, signal upside.

Partly, the index test in advance Support level ie 12 991 and 12 752. If they fail at 13 335, then the index is estimated to tend to test further back resistance level that is 13 615 and the possibility of being extended to 13 839 in the area.

Draghi comments Muffled Disability Rehabilitation Euro

Euro slips to 5th session streak against the U.S. Dollar on Tuesday yesterday’s post European Central Bank President Mario Draghi said that the condition of the euro area economy still requires monetary stimulus policy.

Technically, the trading session today, Wednesday (26/06), the pair euro dollar opportunity to move in a negative trend.

Predicted weakening of the Euro, especially immediately test back Support minimum and maximum that is at 1.3027 1.2986. And as, if able to break and last Euro above 1.3081, then the other alternative scenario ie Euro chance to test resistance at 1.3129 and 1.3169 area.

Gold prices ended down, embedded U.S. economic data

Gold trading in the U.S. session begins with the rising price of gold, but then followed by further sales action, following positive U.S. economic data to increase market expectations that the U.S. Central Bank will begin to soften its monetary economic policy that departs on disability stimulate the economy, create Dollars The U.S. currency strengthened on the other and dropping government obligations.

Technically, today’s gold trading session this Wednesday (26/06) potentially bearish, test returned negative trend, but prone to reversal. RSI indicators tend to re-test Support channel oversold area and heading, but Bollinger Bands are beginning to widen, thus providing the impetus for gold for upside.

Chance of gold price immediately prior to test Support at least in the area of ​​re-test 1238.97 and 1211.18 maximum level. But if the price of gold is able to break above 1275.15 and defending the gold price estimated potential test resistance ie 1302.34 and 1326.65.

Market Analysis Tuesday 25th of June

Ben Bernanke concerning policy stimulus assessed is unclear

Korean Stock Market Hit Bottom Up to 1800 Points

Lower back movement occurred in South Korea stock market where negative pressure is obtained from the weakening of the majority of stock markets in Asia. Broadly speaking, the Asian stock market sentiment was hit by a concern for the U.S. economy as the potential decrease in the amount of U.S. economic stimulus package.

Technically, the index in the trading session today, Tuesday (25/06) likely to weaken, test negative trends, the impact of Wall Street. At the H4 chart bearish engulfing formation provides 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 H4 chart, is in the oversold area, cue upside.

Expected, the index tested the first support level ie 236.97 and 230.55. If it fails at 245.55, then the next index is expected to tend to retest the 251.32 resistance level and continue up the possibility of being in the 256.42 area.

USDJPY soared Related Comments BoJ Iwata

Pairing USDJPY soared 30 points in a while due to BoJ Iwata’s comments stating that the central bank still has several options of monetary policy.

Technically, the trading session today, Tuesday (25/06), the dollar yen pair has a chance to move in a negative trend.

Weakening Yen primarily expected soon reexamine the minimum support at 95.56 and 94.32 maximum. Meanwhile, if the Yen is able to break and hold above 97.55, then another alternative scenario the chance to test Resistance Yen’s in the area of ​​98.84 and 100.04.

Gold prices Makin dimmed, Negative Fundamentals

Gold prices to trade tonight again decreased. As with other futures investments trading, precious metals commodity prices are also overwhelmed by the pressure coming from the U.S. economy. Statement from Fed Governor Ben Bernanke concerning policy stimulus assessed is unclear at the moment. However nominal 85 billion dollars which will be designated as the purchase of the notes is expected to be realized in the next year.

Technically, gold at today’s trading session on Tuesday (25/06) 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 ​​1241.00 and re-test the maximum level of 1212.01. However, if the price of gold is able to break and hold above 1281.70 then estimated the price of gold could potentially test the Resistance 1310.78 and 1337.61.

Metal suffer worst week since April – Market Analysis Monday 24th of June

Hang Seng Index ended down, Bearish Not Ended

Hong Kong stock exchange for trading days last week suffered impairment recorded. Exchange closed again weakened due to negative sentiment that has raised fears of the U.S. economy post the plan on Fed statement will lift economic stimulus policy.

Technically, the index on the trading session today, Monday (24/06) chance to weaken, test negative trends, browse Wall Street. On the H1 chart bearish engulfing formation provides an opportunity for the index to move downside. However, the volume tends to rise, early indications bulish index. In addition, RSI, on the H1 chart, selling in saturated areas, signal upside.

Partly, the index test in advance Support level ie 19 038 and 18 454. If they fail at 19 899, then the index is estimated to tend to test further back resistance level that is 20 532 and the possibility of being extended to 21 240 in the area.

EUR / USD: Euro Drops Further, Support 1.3095 | EU Data Focus

In Friday trading yesterday, the opening price of EUR / USD at 1.3221. Movement of this currency pair experienced pretty sharp corrective decline, the amplification precede the peak level Pulled 1.3250 then back to 1.3095 after the policy level through 1.3158 support (low, 20 June). Closing price at 1.3115, marked by a bearish candle.

Technically, today’s trading session on Monday (24/06), the pair euro dollar opportunity to move in a negative trend.

Predicted weakening of the Euro, especially immediately test back Support minimum and maximum that is at 1.2896 1.2774. And as, if able to break and last Euro above 1.3104, then the other alternative scenario ie Euro chance to test resistance at 1.3262 and 1.3413 area.

Gold Rebound In New York After the Fall to Lowest Since 2010

Gold rose from its lowest since 2010, with speculation that the collapse could trigger a purchase. Metal suffer worst week since April after Federal Reserve chairman Ben S Bernanke said the central bank could hold stimulusnya.

Technically, gold at today’s trading session, Monday (24/06) reversal potential, tested positive trend, but prone to profit taking. RSI indicators tend to re-test resistance bullish channel and head area, but Bollinger band began to shrink, giving impetus to gold to the downside.

Chance of gold price immediately prior to test resistance at least in the area and re-test 1327.45 maximum level of 1345.82. But if the price of gold can not afford to break and survive under 1294.00 then predicted the gold price potentially testing Support ie 1273.63 and 1254.63.

Gold closed down more than 6% - Market Analysis Friday 21th of June

The Hang Seng Index Drops Nearly 3%

Hong Kong shares to trade on Thursday closed yesterday experienced a sharp decline. Exchanges are still declining and continue the negative trend due to pressure from fundamentals which investors prefer to sell stocks after the Fed’s decision last night that will reduce the nominal U.S. economic stimulus package.

Technically, the index in the trading session today, Friday (21/06) likely to weaken, test negative trends, the impact of Wall Street. On the bearish engulfing formation M15 chart gives an opportunity for the index to move downside. However, the volume is likely to increase, 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 support level ie 19803 and 19505. If it fails in 20285, we then estimated the index tends to retest the resistance level of 20 599 and continued until the area is likely to be 20 927.

EUR / USD: Euro Weakens, Support 1.3190

In trading Thursday, the opening price of EUR / USD at 1.3293. The movement of this currency pair natural corrective decline, at the start strengthening to a peak of 1.3299 and then pulled back up to ground level after passing support 1.3158 1.3174 (low, June 10).

Technically, the trading session today, Friday (21/06), the pair euro dollar likely to move in a negative trend.

The weakening Euro is mainly expected to immediately reexamine the minimum support at 1.3002 and 1.2872 maximum. Meanwhile, if the euro is able to break and hold above 1.3214, then another alternative scenario the chance to test Euro Resistance at 1.3359 and 1.3472 area.

Fed Signals From Ruin tapering Gold Prices

Gold closed down more than 6% after the price dropped to a low level in more than 2-1/2 years on Thursday, with investors sold gold after the Federal Reserve signaled plans to end the era of easing.

Technically, gold at today’s trading session on Friday (21/06) 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 ​​1224.33 and re-test the maximum level of 1187.98. However, if the price of gold is able to break and hold above 1274.05 then estimated the price of gold could potentially test the Resistance 1316.42 and 1355.19.

U.S. Federal Reserve will give the signal for slowing stimulus policy - Market Analysis Wednesday 19th of June

ANALYSIS 19-06-2013

Hong Kong Stock Exchange Closes Flat, Makin overcast since morning

Hong Kong stock exchange for trading Tuesday closed flat yesterday. Reaching the end of trade, the positive movement that occurred since the more overcast morning apparently after the investor does not want to take the results too are at risk due to fundamental conditions covered by the uncertainty regarding the U.S. economic stimulus policy that today will be back Wednesday discussed the Fed meeting.

Technically, the index on the trading session today, Wednesday (19/06) chance to weaken, test negative trends, browse Wall Street. On the bearish engulfing formation M15 chart provides an opportunity for the index to move downside. However, the volume tends to rise, early indications bullish index. In addition, RSI, on the M15 chart, selling in saturated areas, signal upside.

Partly, the index test in advance Support level ie 20 744 and 20502. If failed in the 21160, the estimated index tend to test further back resistance level that is 21 431 and the possibility of being extended to 21 681 in the area.

Toss Euro ZEW report

Euro bolted into position 4-month high versus the U.S. Dollar post a survey showed German economic sentiment continues to improve for the 2nd month in a row, indicating if the largest economy in Europe has been in a moderate recovery path.

Technically, today’s trading session on Wednesday (19/06), the pair euro dollar opportunity to move in a positive trend.

Strengthening of the Euro, especially predicted back soon test resistance at 1.3583 ie the minimum and maximum of 1.3701. And as, if the Euro is not able to break below 1.3392 and then endure another alternative scenario ie the Euro had the opportunity to test Support at 1.3253 and 1.3143 area.

Gold Close Descending, Approach 4 Week Lowest Prices

Gold price ended trading Tuesday down yesterday after chance fell to near the lowest level in four town where many brokerage focused his attention on the possibilities of the U.S. Federal Reserve will give the signal for slowing stimulusnya policy.

Technically, today’s gold trading session this Wednesday (19/06) potentially bearish, test returned negative trend, but prone to reversal. RSI indicators tend to re-test Support channel oversold area and heading, but Bollinger Bands are beginning to widen, thus providing the impetus for gold for upside.

Chance of gold price immediately prior to test Support at least in the area of ​​re-test 1334.06 and 1313.03 maximum level. But if the price of gold is able to break above 1368.80 and defending the gold price estimated potential test resistance ie 1392.68 and 1411.80.

XULF Report 18/06 - Markets are awaiting for Bernanke's comments at the FOMC press conference

XULF Report

Another quiet and range bound period is expected today as the markets wait for Bernanke’s comments at the FOMC press conference on Wednesday scheduled 19:00 GMT. Taking into account the mixed bag of data and the unspectacular May Non-Farms Bernanke is likely to reiterate stimulus reduction is data dependant therefore gold looks like it could be stuck in the $1375 to $1390 range for some time to come. There could be some volatility beforehand if the US housing data tonight shows further improvement in new builds which could cause a spike in equities and suppress gold but it does feel like gold needs a significant shift in the fundamental outlook in order for the bears to gain control over the bulls.

Keep looking to sell at resistance and buy at support levels displayed by shooting stars and hammers and/or two or more touches of a certain price level as this is the best way to capture a few dollars of profit before we see the big next move. It is worth noting the bullish trendline that is visible on the 1 hour chart coloured green. As I write price is sitting on the trendline making its fourth touch so there could be an opportunity to achieve a short term profit via a bounce or break. The red horizontal line displays shorter term resistance at $1385 that has received 3 touches so far today so again look for bounce or breaks at this level.

Taking a longer term view from a technical perspective remember the two side by side shooting stars on the weekly chart which has now been followed by a bullish hammer. The shadows on the shooting stars are longer than the hammers shadow meaning the bears still have the upper hand so look for good entry levels to short if you don’t mind taking on the risk and volatility that will occur on Wednesday. Sometimes candlesticks do not have immediate effects but can influence price at a later date.

Market Analysis Tuesday 18th of June

ANALYSIS 18-06-2013

Kospi worry about Global Economy

Kospi fell as widespread concerns over global economic growth outlook. G-8 confirms outlook for the global economy remains weak despite slowdown risk has been reduced.

Technically, the index in the trading session today, Tuesday (18/06) likely to weaken, test negative trends, the impact of Wall Street. On the M30 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 M30 chart, is in the oversold area, cue upside.

Expected, the index tested the first support level ie 241.16 and 238.37. If it fails at 245.55, then the next index is expected to tend to retest the 248.66 resistance level and continue up the possibility of being in the 251.55 area.

Stock Trading Session duration in Europe, Euro Steady Against U.S. Dollar

Trading foreign exchange on Monday the euro just naturally a little movement against the U.S. dollar as investors await the outcome of a U.S. Federal Reserve meeting later this week.

Technically, today’s trading session on Tuesday (18/06), the pair euro dollar likely to move in a positive trend.

A stronger Euro is mainly expected to soon re-test the resistance at 1.3541 minimum and maximum 1.3659. Meanwhile, if the Euro was unable to break and stays below 1.3357 then another alternative scenario the Euro likely to test support at the 1.3228 area and 1.3117.

Gold prices closed down to $ 1,383.10

Gold prices ended closed down after the broker more waiting to be ahead of the Federal Reserve’s FOMC meeting which will take place this week.

Technically, gold at today’s trading session on Tuesday (18/06) 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 ​​1356.12 and re-test the maximum level of 1340.66. However, if the price of gold is able to break and hold above 1384.90 then estimated the price of gold could potentially test the Resistance 1404.16 and 1421.66.

XULF Weekly Report 17 – 21 June

XULF Weekly Gold Report

Last week was another week of sideways movement for gold showing good resilience against strong US Retail Sales and Jobless Claims. On Tuesday it looked as though the bears were finally getting a grip of this market as they forced down through a couple of support levels in the $1370’s to print a low of $1365.32. The fundamentals for gold are certainly bearish but this is being countered technically by the bulls wanting to push a bear trend correction and this is creating an equilibrium just under the $1400 level. The widely used term ‘tapering’, referring to the anticipated stimulus slowdown, has negative connotations for gold as the process should only be conducted in the presence of a healthy US economy and it will strengthen the US dollar making gold more expensive in other currencies but simultaneously gold is in demand to some degree because of the uncertainty of how the economies and financial markets will react when the tapering begins. However the Fed may continue with the bond buying for longer than expected and only withdraw when there are signs of inflation which would be ideal for gold as the removal of one catalyst will be replaced by another. Therefore the outlook for the rest of the year will be largely influenced by the presence of three factors; stimulus, uncertainty and inflation and taking into account these environments never seem to be far away gold should put up a good fight in the long term.

The weekly chart shows that gold could be close to deciding which way it wants to move from here and break out the $1350 to $1420 range. I have referred to the momentum indicator in recent reports as it is appropriate and very useful given gold’s circumstances at present. The indicator is pushing against its own bearish trendline which could prove to be a pivotal moment. If we see a break on the momentum indicator this would be bullish as it would be characteristic of the current trend having weakened and that the market is poised to reverse. On the contrary if we see a bounce on the indicators trendline expect to see more declines as the bulls lose confidence in trying to revive this once beloved commodity.

In the short term the best way to trade this market, taking into account the lack of direction, is to buy at support and sell at resistance. Support and resistance levels are formed when a price level receives a higher volume of buying or selling and this is often displayed by long shadowed candlesticks especially hammers and shooting stars. Bear in mind these levels on this 1 hour chart are only minor support and resistances as they have only had one instance of higher volume but nonetheless can be useful to capture a few dollars of profit. Look to sell at the yellow resistance and buy around the green support lines but be mindful of any news that may be moving price towards these levels because if the move is backed by news we could see price knock down these levels. If price approaches either of these levels in an absence of news and economic numbers then there is a stronger case for applying this tactic.

Important economic releases to watch out for this week include the German ZEW survey and US Inflation data on Tuesday. On Wednesday there is a German 10 year bond auction that will garner close attention and affect EUR/USD and at 19:00 GMT the FOMC express their views on the US economy and will give more clues as to when the tapering may begin or under what circumstances they will begin to act. There is German and US manufacturing along with US Home sales data Thursday and on Friday Bank of Japan’s Governor Kuroda speaks at a press conference.

Market Analysis Wednesday 12th of June

Nikkei Concerned About Strengthening Yen

Nikkei fell as investors worried about the impact of the strengthening of the Japanese yen against the performance of exporters in the international market. USD / JPY rose 3% last night and had touched 95.58 near its strongest level in two months.

Technically, the index in the trading session today, Wednesday (12/06) likely to weaken, test negative trends, the impact of Wall Street. On the bearish engulfing formation M15 chart gives an opportunity for the index to move downside. However, the volume is likely to increase, 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 support level ie 12164 and 11634. If it fails in 13060, we then estimated the index tends to retest the resistance level of 13658 and continued up to the possibility of being in the 14264 area.

ECB’s Asmussen statement Rescuing Euro

The euro managed to continue its rally against the U.S. dollar after comments one member of the board of the European Central Bank, Joerg Asmussen.

Technically, today’s trading session on Wednesday (12/06), the pair euro dollar likely to move in a positive trend.

A stronger Euro is mainly expected to soon re-test the resistance at 1.3449 minimum and maximum 1.3545. Meanwhile, if the Euro was unable to break and stays below 1.3309 then another alternative scenario the Euro likely to test support at the 1.3196 area and 1.3091.

Bury the BoJ Stimulus anxiety Gold

Gold closed down less than 1% on Tuesday, after touching a low level in nearly six weeks, as the lack of a new economic stimulus from the Bank of Japan sparked fears that other central banks may also withdraw its support, eroding the appeal of gold as a means of inflation hedge. Gold fell as much as 1.4% after the Bank of Japan refrained the new policy, arguing that the bond market has stabilized.

Technically, gold at today’s trading session on Wednesday (12/06) 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 ​​1347.45 and re-test the maximum level of 1329.15. However, if the price of gold is able to break and hold above 1376.10 then estimated the price of gold could potentially test the Resistance 1398.78 and 1417.08.

Market Analysis Thursday 6th of June

ANALYSIS 06-06-2013

Kospi Index Follow Asian Stocks Slump More

Decline in South Korean market movements to trading on Wednesday re-occur. Negative trend continued as the existence of a market concern on the condition of the Japanese economy and China is expected to experience an economic slowdown at the end of this year. The governments of both countries have even suggested that the country’s economic growth will still be difficult. For Japan, the condition will still looming deflation in the short term.

Technically, the index in the trading session today, Thursday (06/06) likely to weaken, test negative trends, the impact of Wall Street. On the bearish engulfing formation M15 chart gives an opportunity for the index to move downside. However, the volume is likely to increase, 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 support level ie 254.35 and 252.75. If it fails at 256.55, then the next index is expected to tend to retest the 258.42 resistance level and continue up the possibility of being in the 260.07 area.

Today’s pulse Global Forex: Euro zone Improved

Japanese Prime Minister Abe will launch three darts critical for economic growth for the whole Abenomics.

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

A stronger Euro is mainly expected to soon re-test the resistance at 1.3191 minimum and maximum 1.3269. Meanwhile, if the Euro was unable to break and stays below 1.3077 then another alternative scenario the Euro likely to test support at the 1.2981 area and 1.2900.

Gold Gains As Investors Trim Cautious Ahead of ECB Meeting

Gold futures rose on Wednesday, with disappointing growth in private sector employment report large losses on equities and also provide support, but the price of gold substantially reducing their reinforcement ahead of the closing session.

Technically, gold in the trading session today, Thursday (06/06) 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 ​​1421.29 and re-test the maximum level of 1433.92. However, if the gold price could not break and stays below 1399.40 then estimated the price of gold has the potential to test Support the 1380.98 and 1365.92.