Trade for Today

As investors were riding on high confidence suddenly Cyprus become Spoil Sport after Cyprus  controversial  bailout package under Saturday’s rescue deal, international creditors agreed to provide 10 billion euros ($12.9 billion) to the country. In return, Cyprus plans to sell government assets, raise corporate-tax rates and impose a tax on interest earned in Cypriot banks. But most controversially, the aid package also requires a one-off levy on deposits in all Cypriot banks.Under the plan, those with more than €100,000 in one of Cyprus’s banks will be hit with a  9.9%  charge, while depositors with smaller amounts will see a 6.75% one-off tax.  In return, the depositors will  receive shares in the country’s lenders.
Stocks across globe dive around 1% to 2% and it's going to help our Friday's  tradecall of selling Dax(German30 ) which is expected to open around 7900 since there is again precariousness
it will benefit USD and Gold but anyways we are expecting stocks to consolidate around 5% to 10% thus Dow around 13850 and other indices accordingly.
Following are trade calls for today,

• Sell Chf/Jpy at 100.30 stop above 100.90 target 98.95
• Sell Aud/Usd at 1.0370 stop above 1.0420 target 1.0310
• Buy Gold at 1594 stop below 1588 target 1613

For more info visit : www.cfb.ae