Gold intraday trading analysis for 17 May 2011, we recommend to trade short in Gold below 1492 level with targets as 1485 and 1478. Stop loss should be placed above 1497 level. Why to trade short on Gold : Gold was seen huge selling last week, also the strong US dollar was responsible for selling in gold. When we look at charts we see that gold will still continue its selling as it has broke ... [Continue Reading]
Nifty Futures Support Resistance Level For 17 May 2011, Sell below 5515, For Target 5442
Nifty futures has changed the near term trading outlook from bullish to bearish after falling to 5444 levels on 5 May 2011. Since then we are looking for selling opportunities only on every up move. Also markets are likely to heavily consolidate, due to high volatility in commodity prices. However we will advice traders to build short position on every up move. We are going to see more selling ... [Continue Reading]
Forex: USD/CHF Trading Analysis for 16 May 2011: Buy Above 0.8925
Intraday trading analysis (tips) for USD/CHF 16 May 2011, we recommend, Enter long in USD/CHF above 0.8925 for target of 0.8965 and 0.8985 also place protective stop loss below 0.8905. Reason to trade long: As the USD has strengthen last week the CHF has seen the selling hence it has moved from 0.8555 level to 0.8935 levels. On daily chart we find USD/CHF was on strong downtrend and this upmove ... [Continue Reading]
Forex: GBP/USD Trading Analysis for 16 May 2011: Sell below 1.6205
Intraday trading analysis (tips) for GBP/USD 16 May 2011, we recommend, Enter short in GBP/USD below 1.6205 for target of 1.6155 and 1.6115 also place protective stop loss order above 1.6225. Reason to trade short: GBPUSD has seen reversal from 1.6725 level and now we see a good selling opportunity. Strong USD and weak GBP is responsible for this strong down trend. So this down move is likely to ... [Continue Reading]
Forex: AUD/USD Trading Analysis for 16 May 2011: Sell Below 1.0585
Intraday trading analysis (tips) for AUD/USD 16 May 2011, we recommend, Enter short in AUD/USD below 1.0585 for target of 1.0545 and 1.0515 also place protective stop loss above 1.0605. Reason to trade short: USD has been trading strongly and has now picked strong momentum for near term trading prospective. So for intraday trading we will be looking for selling opportunities in this pair as long ... [Continue Reading]
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