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Daily market recommendations for today Wednesday 08-01-2014

Discussion in 'Forex Discussions' started by Ahmed Mahmoud, Jan 8, 2014.

  1. Ahmed Mahmoud

    Ahmed Mahmoud New Member

    Nov 17, 2013
    Likes Received:
    EURUSD Near Term : Downside favored
    Pivot Point : 1.3660
    EURUSD is Downside favored, So Sell at 1.366 with Target at 1.3565
    If breaks above pivot 1.366 Buy with Target at 1.37

    GBPUSD Near Term : Upside favored
    Pivot Point : 1.6370
    GBPUSD is Upside favored , So Buy at 1.637 with Target at 1.647
    If breaks below pivot 1.637 Sell with Target at 1.6335

    USDJPY Near Term : Upside favored
    Pivot Point : 104.65
    USDJPY is Upside favored , So Buy at 104.65 with Target at 105.2
    If breaks below pivot 104.65 Sell with Target at 104.3

    Crude Oil Near Term : Downside favored
    Pivot Point : 95.40
    Crude Oil is Downside favored, So Sell at 95.4 with Target at 93.3
    If breaks above pivot 95.4 Buy with Target at 96.55

    Gold Near Term : Under Pressure
    Pivot Point : 1235
    Gold is Under Pressure, So Sell at 1235 with Target at 1215
    If breaks above pivot 1235 Buy with Target at 1245

    Most Important Forex Events for Today (GMT):
    • ADP Non-Farm Employment Change for US Dollar at 13:15
    • FOMC Meeting Minutes for US Dollar at 19:00
  2. marketmagnify

    marketmagnify New Member

    Aug 9, 2013
    Likes Received:
    Nifty Future Intraday Trading Strategy

    The 50-share Nifty index is expected to open lower on Friday following muted trend seen in other Asian markets while investors will keep a close eye on Infosys which will declare its results for the quarter ended December 31 later today.

    Infosys on Friday posted consolidated net profit of Rs. 2,875 crore on sales of Rs. 13,026 crore for the October-to-December quarter. Brokers polled by NDTV had expected India's second biggest outsourcer to report net profit of Rs. 2,786 crore on sales of Rs. 13,063 crore.


    • Nifty ended at 6168.35 down -6.25 points and the Sen*** at 20713.37 down -16.01 points
    • Positive on India, rupee may not weaken much: JP Morgan AMC
    • Nifty at risk of falling to 5800-5900: CLSA
    • FTIL may seek more time to reduce MCX-SX stake
    • Don't expect high RoE from TN, Odisha UMPP: Jindal Power
    • Something went wrong in coal blocks allocation case: Centre to SC
    • ONGC Videsh-Oil India complete Videocon stake acquisition

    The market opens in green. The Sen*** is up 60.58 points at 20773.95, and the Nifty gains 10.50 points at 6178.85. About 264 shares have advanced, 78 shares declined, and 251 shares are unchanged. The rupee opened marginally higher at 61.99 per dollar versus 62.07 Thursday. The US dollar eases from a seven-week high in early trade as investors book profits ahead of the keenly awaited US jobs report, helping lift the euro that was briefly unsettled by dovish comments from the European Central Bank.

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