Trading Signals for Thursday, August 16, 2012

The market has taken a twist from its recovering and is showing all signs of a downfall since the start of the day. Seeing the confused scenario, we can refrain from trading on the EUR/USD pair instead we can scalp with nominal profits.

Also, Gold and Silver are stuck in a narrow range, though due to there being a shimmering commodity, a huge breakout towards North is most likely.

However, keeping in line with our conservative approach, few deals can be considered, which are as follows:

1. EUR/USD : Short at 1.2351 with stop loss 1.2391 and take profit at 1.2231
2. EUR/USD : Long at 1.2199 with stop loss 1.2159 and take profit at 1.2319
5. XAU/USD : Long at 1586.8 with stop loss 1581.8 and take profit at 1601.8
6. XAU/USD : Long at 1576.8 with stop loss 1571.8 and take profit at 1591.8
7. XAG/USD : Long at 27.50 and 27.00 with a take profit at 30.0 and a stop loss as per your margin capacity.
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