Eur/usd Outlook

Eur/usd outlook for Monday


Eur/USD for monday is good to buy above 1.4194 . and short below 1.4194 , its a pivot point.
1.4383 should be your target .
If below 1.4194 , the target should be 1.4027

Uptrend In Gold Stocks !

We've done so again , we've been long from $896 ,

I would still recommend you buy shares such as . Titan , Gitanjali , AGEE gold , and a couple of more gold stocks that you can get your hands on .


Looking at the Bullish Gold Miners Index there is going to be another jump in the Gold Stocks would have to follow .
the Dow Gold Miners Index also seems to have a bull confirmed on the first week of may.

Technically Earlier the HUI Golds Bugs Index confirmed a bull in the gold prices which is why we see it at $930 and $937 USD ahead , Following Resistance . Prices of Gold will remain volatile and we could also see a slight consolidation phase ( a slight correction ) before another Spike upwards.. Commodity traders are going to find it difficult to trade the current gold prices due to sudden moves following the data listed in the economic calender.

the EUR/USD is now directly correlated to the Gold prices , We see resistance in the EUR/USD at around 1.41 , which is still a good bullish support for the Gold prices. due to weakening in the US Dollar.
----------- Gold Stocks are going to soar!! ----------------


Looking at the Technical Charts , These Gold stocks are just about to cross their 150 , and 200 day moving averages , these gold stocks are not actually according to the current prices of Gold which is at $930 .
I believe these stocks can get you good returns in a short time span, Probably within this Month.

Platinum Falls Amid US Auto Market Turmoil

Platinum price plunges to 1097 in European morning after slight recovery in the past 2 days. Chrysler's bankruptcy has presents a big risk to the white metal and about 50% of platinum was used in auto parts.

Chrysler, the 3rd largest automaker in the US, filed under Chapter 11 of the bankruptcy code Thursday and the first hearing will be taken place today. The company is expected to emerge within 30-60 days into a new company. Most of the company's plants will remain idle until the transaction is completed.

The new Chrysler involves a strategic partnership with Fiat SpA which will take an initial 20% stake, and later 35%, in the new company. However, the market doesn't seem to be very positive on the deal. Credit Suisse said in its research note that the 'new-Chrysler' may not generate any cash until 2012E. Other analysts mentioned that there's no market in the US for Italian small cars.

Another auto giant, General Motors, is also under the process of restructuring and outlining a deal with bondholders so as to avoid going bankrupt. It will probably take some time to erase the uncertainty in US' auto industry and we believe its negative for platinum price in the near term.

Vehicles sales in the US will be released later today. The market expected annualized light vehicle selling rate would have remained flat at 9.9M units in April after plunging to 9.12M units in February. While it may be sign that car sales have hit a bottom, more data are needed to confirm.

Gold has not been bolstered by the news that WHO has raised its warning alert from Phase 4-to Phase 5 (Phase 6 the maximum) and the failure to stay firmly above 900 made the precious metal pull back to 885 level. With investment demand flowing out and physical demand from India was not as robust as previously estimated, we are worried about the near-term sluggish outlook for gold - the benchmark contract may move with the range of 850-900 for sometime.

Gold holding in SPDR Gold Trust has not changed since early April. During Akshaya Tritiya festival in India this year, gold purchase was 45 metric tons, -8% yoy.

Concerning gold output, several producers reported increases in 1Q09. Barrick, the largest gold producer, reported its output rose by 1% y/y to 1.747Moz while Lihir Gold reported addition of 128% to 318koz in gold production during the quarter.