FROM: PETER CRUZ DATE: 12th Mar., 2014 – Wed. Market Brief The Aussie/Yen cross is soft in Asia Wednesday as Tokyo stocks fell. Japan’s Nikkei Stock Average was recently down 2.18% at 14,891. The risk-sensitive Aussie slipped from Y92.41 in late New York Tuesday to a four-day low of Y91.99 this morning. However, it was unable to sustain its losses below the middle Bollinger band – coming in now at 92.10 – and was recently trading 92.32. The cross looks likely to consolidate with soft bias between 91.99 and 92.87 for now. A convincing drop below 91.99 may see the Aussie/Yen cross falling to 90.62, the lower Bollinger band. On the data slate there’s Japan Consumer Confidence; UK Visible Trade Balance; Euro-Zone Industrial Production; US MBA Mortgage Applications; US Crude Oil Inventories and US Monthly Budget Statement. SELL EUR @ 1.3875 OR BETTER - STOP @ 1.4000 – TARGET @ 1.3775 – no change SELL GBP @ 1.6625 OR BETTER – STOP @1.6705 - TARGET @ 1.6565 BUY USD/JPY @ 103.00 OR BETTER – STOP @ 102.40 – TARGET @ 104.00 – no change SELL CL0414 @ 99.60 OR BETTER – STOP @ 100.50 - TARET @ 98.40 SELL XAU @ 1357 OR BETTER – STOP @ 1365 - TARGET @ 1335 SELL XAG @ 21.00 OR BETTER – STOP @ 21.50 – TARGET @ 20.00 – no change GOOD LUCK AND HAPPY TRADING PLS. NOTE: 1. ALWAYS REMEMBER TO PUT STOPS WHENEVER YOU TRADE, MARKETS ARE VERY VOLATILE. 2. THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY PROMISES OR GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS AND IT IS NOT FOR EVERYONE.
Posted on: Wed, 12 Mar 2014 04:35:08 +0000
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