Weekly Forex Market Analysis for the week of June 17th until June 21st

Market Analysis – Short term Trades Remain the Best Strategy

 

 Current market conditions aren't giving us any clear signs as of yet. The dollar index is still in free fall, the S&P 500 is still in a position to either resume its uptrend or continue lower and finally the Gold market has been stuck in a 40 point range for the last month. Needless to say, the next move in the various financial markets could be explosive and there is no better time to be a trader than now. We have a number of economic events this week that should produce quite a bit of volatility and sizeable profits for those that are appropriately positioned.

Technial Trading Plan for the week of
June 17th until June 21st 2013

EUR/USD

RESISTANCE	R1:  1.33484	R2: 1.33665	R3:  1.34000
SUPPORT	S1:  1.33161	S2:  1.33041	R3:  1.32692

USD/JPY

RESISTANCE	R1:  95.305	R2:  96.155	R3:  96.996
SUPPORT	S1:  92.999	S2:  91.625	R3:  NA

 

USD/ZAR

RESISTANCE	R1:  10.0300	R2:  10.11550	R3:  10.18787
SUPPORT	S1:  9.83977	S2:    9.78635	R3:    9.67779

 

XAU/USD – GOLD

 

RESISTANCE	R1:  $1,394.75	R2: $1,399.04	R3:  $1,422.00
SUPPORT	S1:  $1,376.11	S2: $ 1,370.35	R3:  $1,347.98

S & P Futures

RESISTANCE	R1:  1,638.06	R2:  1,644.83	R3:  1,658.35
SUPPORT	S1:  1,622.78	S2:  1,607.23	R3:  1,595.00