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Ashish Nayak
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Working In Global Stock Market,Commodity Market And Forex Market From Last 6 Years As A Trader.Complete B.Com With Finance Also Passed NCFM Competitive Exam In 2009. Here Is Share My 6 Years Experience And Trading Strategy With My Traders And Investors Friends. Traders And Investors
My company:
Rocking Global Investment Pvt Ltd
My blog:
Fx Rocking Global Investment Pvt Ltd
  • Which Side Direction In FX For Short Term After Consolidation..?

    Which Side Direction in FX for Short Term after Consolidation..?

    Last week was consolation in FX markets. End of week The Dollar soared against most competitors and the EUR/USD was dragged below the 1.3000 level to a fresh 3-month low of 1.2956. But the pair managed to recover some ground to close at 1.3000, 0.85% down on the day. The pair is trading at 1.3045(+0.08%). The important data last week - the final releases of the February Services PMIs for Germany, France, Italy, and the broader Euro-zone; and the January Euro-zone Retail Sales report - came in higher than forecasted.

    Ratings agency Fitch downgraded Italy one notch last week to BBB-plus, citing the gloomy outlook for the economy, and placed a negative ratings outlook for the country which could lead to further downgrades. The ongoing political uncertainty in Italy may also place further pressure on the euro after Italian officials suggested the country may miss an end-of-April deadline to present a stability program to European authorities due to the political stalemate.

    EUR/USD Technical Trend

    EUR/USD Semiannual Technical Chart

    (click to enlarge)

    After breaking 100 Days MA 1.3174 on 26th February the pair is trading in that level from last tern days. The pair creates on semiannual chart a format of rising wedge in an up trend it gives a sign of selling pressure continue below main resistance 1.3066. You can see 1.3124 and 1.3170 above level after crossing and giving close on 1.3066.Semiannual RSI below 39.64.

    On semiannual chart 38% retrenchment of improvement was 1.3066 so keep 1.3066 as near main barrier. EUR/USD near crucial support is 1.2957. If break 1.2957 then next target can be 1.2899 and 1.2833 in short term. According to pitchfork you can see shortly near target 1.2899 new level can be after breaking 1.2899.

    USD/JPY

    Friday was a classic news fade trade in USDJPY. The NFP release inspired a spike into 96.55, which ended up being the high of the day. Price was down over 100 pips slightly more than an hour later. Action since the Friday post NFP low is consistent with the always annoying grind higher. Recently, the pair is trading near 96.39(+0.11%).The JPY traded at almost the weakest since August 2009 against the USD as signs the American economy is gaining momentum boosted demand for the U.S currency.

    The data released yesterday in Japan which showed that machinery orders plunged in January by a huge 13.1% from the previous month, highlights a challenged environment for business investment. BoJ nominee Kuroda maintained a dovish bias in his appearance before lawmakers in Japan's upper house. He hinted at the possibility of pulling forward the start date for open-ended asset purchases, currently set to begin in 2014, while also underscoring a preference for long-term bond purchases. Kuroda stated that there is no need to purchase foreign bonds, and viewed two years as an appropriate period for achieving the 2.0% inflation target. The employment report and hope ahead of the BOJ meeting on April 4th should be enough to keep USD/JPY well supported for now.

    USD/JPY Technical Trend

    USD/JPY 10 Days Technical Chart

    (click to enlarge)

    Pair again breaks 10 days MA 96.46 and recently trading below in it. Ascending triangle in uptrend format creates on 10 days chart who gives sign of continuing improvement on near main support 95.31. You can also see shortly 94.47 and 93.64 after breaking 95.31. RSI moving near 23 on ten days chat. Improvement of pair 38.20% retrenchment finished near 95.31 so, more below levels can be after giving close below in it.

    On 10 days chat, upper bowling bend making on 96.46 accordingly, focus on 96.46 as more near main resistance. You can see shortly 97.55 and 98.11 above levels after crossing and giving close on 96.46. 20 days MA and down boiling bend are making below 95.31.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

    Tags: forex
    Mar 13 3:59 PM | Link | Comment!
  • Bull Be Careful…Gold May Hit 1555.11 In Short Term

    U.S gold prices higher on Tuesday as demand waned for gold-backed exchange-traded funds and investors continued to digest the effect of wide-ranging US government spending cuts on bullion. Gold opened at 1572.70 after created high at 1583.20 and currently trading near 1580.10. The SPDR gold trust notched on outflow of 0.6 tones on Friday, extending its losing streak after reporting the biggest ever on-month drop in February.

    Gold prices in February fell for a fifty straight month for the first time since 1997. Buying interest has tedious up after the metal failed to rally back toward record highs last year despite successive rounds of monetary easing from the Federal Reserve. Gold mining stocks took a hit too as bullion tumbled. The S&P GSCI Gold Index (A Gold Equities Benchmark) Also posted a five month losing streak in February for its longest consecutive monthly decline since 1996 when gold ETF were lackluster, sales of American Eagle coin and silver rose sharply YOY in February,

    * Gold Technical Trend

    3 Years Gold Technical Chart (With IC Indicator)

    (click to enlarge)

    Gold future for April delivery settled up 10 cents per ounce at 1572.40, with trading volume about 30 percent below its 250 day average. Yesterday gold given weak close below 1572.75 its signal that selling pressure in gold may continue. Gold April future creates on 3 years chart a format of head and shoulders as a reversal in an up trend who gives a sign of selling at will continue below near crucial resistance 1594.28. You can see more up side with target 1603.95 and 1613.21 if it crosses and giving close on 1594.28. Gold may glide below 1542.55 if it breaks its crucial support of 1566.03. IC Indicator indicated that gold chikou span may complete at 1535.11 on 3 years chart. if near leading span 1577.40 break in intraday so gold may hit once again 1566.05.Gold near strong support 1566.05.Recently gold trading above 3 days EMA and SMA.

    • Traders Should Follow The Levels Given Below
    • Bullish Trend - 1594.28 - 1603.95 - 1613.21
    • Bearish Trend -- 1577.40 - 1566.05 - 1555.11

    ==============================

    Mar 05 10:05 AM | Link | 1 Comment
  • Is Crude Oil Short Term Toward 87.22 Or 94.18?

    Is Crude Oil Short Term toward 87.22 or 94.18 …..?

    WTI for April delivery was at $90.28 a barrel, down 41 cent, in electronic trading on the New York Mercantile Exchange West Texas Intermediate crude traded near the lowest level in 10 weeks after a report showed money managers cut their bets prices will rise. Libya halted some oil production and natural gas shipments amid fighting. Crude oil opens at 90.78 and now trading near day low 90.28.

    Crude Oil Monthly Average Production

    (click to enlarge)

    U.S. crude oil production exceeded an average 7 million barrels per day (bbl/d) in November and December 2012, the highest volume since December 1992. The end-of-year data were reported on February 27 in EIA's Petroleum Supply Monthly. Initial estimates for production in November were below 7 million bbl/d, but revisions based on additional data indicate that production exceeded 7 million bbl/d in November 2012. That was followed by December production estimated to be more than 7 million bbl/d. Increasing oil production in North Dakota and onshore Texas drove the increase in U.S. crude oil production over the last several months (although crude oil production in North Dakota took a dip in November, before increasing again in December). Much of the increase in crude oil production is coming from shale and other tigh (very low permeablity) formations.

    * WTI Crude Oil Short Term Technical Outlook

    Crude oil 8 Month Technical Chart

    (click to enlarge)

    US crude oil trading below 200 days SMA 90.42. WTI crude oil created monthly reduction $6.7 on February end its noticeable that US crude oil range is from 90 to 99 from last two months. NYMEX crude oil creates on monthly chart a format of descending triangle in the beginning of an down trend who gives a sign of selling at every high below near main resistance 91.79 in crude oil. You can see fast levels 92.74 and 94.18 If it crossing and giving close on 91.79 continues two days. You can see definite below level 88.80 with more selling pressure after breaking sankou span support 89.83. Fresh bullish trend just can be on $92.74 according to IC kinko hyo green cloud well! All the high levels will prove gammon below 92.74.

    On 8 month chart crude oil creates a format of head and shoulders in an uptrend it indicate that crude may glide below 88.80 in short term if it not crossing near crucial resistance 91.01 in intraday. 91.01 is also chikou span on 8 month chart. You can see 94.18 above level if crude oil today close above 91.01. 8 month RSI near 32.83 it when macd below -0.114. Intraday traders sell crude oil around 90.77 for target 89.83 and 88.80 with strict SL 91.01. on 8 month chart new bearish cloud may start below 89.83.

    *Intra Day Traders Should Follow The Levels Given Below:

    -->Bullish Trend - 91.01 - 91.79 - 92.74 - 94.18

    --> Bearish Trend - 89.83 - 89.36-88.80-88.07

    Disclosure: I am short CRUD.

    Mar 04 11:18 AM | Link | Comment!
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