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Gold Prices Advance Higher But Remain Below 1200.00 Level

Published 05/05/2015, 05:52 AM

AUD/USD

Market Scenario 1: Long positions above 0.7880 with target @ 0.7908.

Market Scenario 2: Short positions below 0.7858 with target @ 0.7830.

Comment: The pair trades around 0.7870 level, after having declined from the session high of 0.7916 as the rating agency Fitch called for greater macro-prudential response.

Supports and Resistances:

R3 0.7908

R2 0.7880

R1 0.7858

PP 0.7830

S1 0.7808

S2 0.7780

S3 0.7758

AUD/USD Chart

EUR/JPY

Market Scenario 1: Long positions above 133.51 with target @ 134.12.

Market Scenario 2: Short positions below 133.09 with target @ 132.48.

Comment: The pair has a bearish tone and trades below 133.50 level.

Supports and Resistances:

R3 135.57

R2 135.15

R1 134.54

PP 134.12

S1 133.51

S2 133.09

S3 132.48

EUR/JPY Chart

EUR/USD

Market Scenario 1: Long positions above 1.1105 with target @ 1.1165.

Market Scenario 2: Short positions below 1.1063 with target @ 1.1003.

Comment: The pair struggles to stay above 1.1100 level.

Supports and Resistances:

R3 1.1309

R2 1.1267

R1 1.1207

PP 1.1165

S1 1.1105

S2 1.1063

S3 1.1003

EUR/USD Chart

GBP/JPY

Market Scenario 1: Long positions above 181.77 with target @ 182.15.

Market Scenario 2: Short positions below 181.26 with target @ 180.88.

Comment: The pair continues to be pushed downwards below 181.50 level.

Supports and Resistances:

R3 183.04

R2 182.66

R1 182.15

PP 181.77

S1 181.26

S2 180.88

S3 180.37

GBP/JPY Chart

GBP/USD

Market Scenario 1: Long positions above 1.5128 with target @ 1.5166.

Market Scenario 2: Short positions below 1.5081 with target @ 1.5043.

Comment: The pair’s volatility is boosted by political uncertainty.

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Supports and Resistances:

R3 1.5251

R2 1.5213

R1 1.5166

PP 1.5128

S1 1.5081

S2 1.5043

S3 1.4996

GBP/USD Chart

USD/JPY

Market Scenario 1: Long positions above 120.13 with target @ 120.26.

Market Scenario 2: Short positions below 119.98 with target @ 119.85.

Comment: The pair tries hard to break resistance level at pivot point 120.13.

Supports and Resistances:

R3 120.54

R2 120.41

R1 120.26

PP 120.13

S1 119.98

S2 119.85

S3 119.70

USD/JPY Chart

Gold

Market Scenario 1: Long positions above 1193.74 with target @ 1200.67.

Market Scenario 2: Short positions below 1185.17 with target @ 1178.24.

Comment: Gold prices advance higher but remain below 1200.00 level.

Supports and Resistances:

R3 1209.24

R2 1200.67

R1 1193.74

PP 1185.17

S1 1178.24

S2 1169.67

S3 1162.74

Gold Chart

Crude Oil

Market Scenario 1: Long positions above 59.04 with target @ 59.63.

Market Scenario 2: Short positions below 58.35 with target @ 57.76.

Comment: Crude oil prices trade neutral near 58.80 level.

Supports and Resistances:

R3 60.91

R2 60.32

R1 59.63

PP 59.04

S1 58.35

S2 57.76

S3 57.07

Crude Oil Chart

USD/RUB

Market Scenario 1: Long positions above 51.791 with target @ 52.500.

Market Scenario 2: Short positions below 50.537 with target @ 49.828.

Comment: The pair found support at pivot point 50.537.

Supports and Resistances:

R3 54.463

R2 52.500

R1 51.791

PP 50.537

S1 49.828

S2 48.574

S3 46.611

USD/RUB Chart

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