FROM: AMIR DARSHAN DATE: 10th July, 2013 – Wed. Market Brief “Ramadan Kareem” to all my Muslim friends and associates. The EUR fell to a fresh three-month low against the dollar after Standard & Poor’s Ratings Services cut Italy’s sovereign rating to triple-B, two notches above junk territory, from triple-B-plus. It had already dropped to a three-month low earlier after a top ECB official detailed the central bank’s commitment to low interest rates. The EUR/USD dropped as low as 1.2755 after the S&P downgrade, its weakest level against the dollar since April 4. The GBP/USD fell as low as 1.4813, its weakest level since June 2010. Late in the session it was at 1.4860 vs 1.4951 late Monday in New York. On the data slate there’s Japan Consumer Confidence Index; German CPI; US MBA Mortgage Applications; US Wholesale Inventories; US Crude Oil Inventories and Fed Releases Minutes from Jun18-19 FOMC Meeting. SELL EUR @ 1.2855 OR BETTER – STOP @ 1.2883– TARGET @ 1.2665 SELL GBP @ 1.4895 OR BETTER – STOP @1.4950 – TARGET @ 1.4725 BUY USD/JPY @ 100.90 OR BETTER – STOP @ 100.45 – TARGET @ 102.30 SELL XAU @ 1257 OR BETTER – STOP @ 1267– TARGET @ 1220 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, 10 Jul 2013 07:29:16 +0000
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