During the last couple of weeks we have seen
violent movements on currencies and metals in part because of the Turkish
crisis, but there are moves that were not interpreted as simply
Despite the strength of the dollar against all
currencies, we found the Japanese yen strong against the dollar and the pound
sterling
Despite the turbulence of the markets, gold has
fallen a lot, even against the eurotor who suffered a lot from the Turkish
crisis, unreasonable moves
But countries such as Turkey , South
Africa and India to get rid of gold holdings
have justified part of it. Senior traders have removed gold holdings to buy
stocks and US indexes from levels they thought were excellent, causing
temporary price declines for gold.
Our expectations for the beginning of the
decline of the dollar now see the dollar index as the currencies began to rise
against the dollar at the end of trading last week and the beginning of trading
this week
Our recommendations for this week follows
EUR JPY BUY
@ 126.26 SL 124.50 TP 126.85 & 129
EUR USD BUY
@ 1.14150 SL 1.1300 TP 1.14380 & 1.15
GBP JPY BUY
@ 140.88 SL 138.00 TP 141.20 & 143
GBP USD BUY
@ 1.2730 SL 1.2600 TP 1.2800 & 1.31
USD JPY BUY
@ 110.60 SL 109 TP 110.74 & 111.20
USD CAD BUY
@ 1.3060 SL 1.29875 TP 1.30875
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