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Gold ended steady mark after a day of mixed trading in equities and currencies left markets little definitive direction. Gold on spot fell after the settlement when the U.S. Federal Reserve chairman didn't address worries about deflation in his highly anticipated comments to senators.

Now technically market is trading in the range as RSI for 18days is currently indicating 45.44, where as 50DMA is at 18584 and gold is trading below the same and getting support at 18318 and below could see a test of 18271 level, And resistance is now likely to be seen at 18405, a move above could see prices testing 18445.

Trading Ideas:

No change for yesterday’s outlook, after the Yen’s strength penetrated the lows of last December & January, we were left with no notable support protecting the 15-year low which was reached last November at 84.81! We will not be a bit surprised if this pair started to move in that direction, and tried to break that low! On the contrary, we have been expecting this for weeks now, and it was included in our reports several times. But, signs show that the possibility of a rising correction to correct the fall from Wednesday’s top 89.09 to Friday’s low 86.25 is growing.

Precisely as we have expected, the long awaited reversal has finally started. It came in a time after the Euro penetrated 1.30 and everybody was cheering for it! However, it broke the support specified in yesterday’s report at 1.2869, and successfully reached the suggested target 1.2764. The evidences we provided in yesterday’s report has triumphed for the technical analysis, over other things which favored the Euro! We have mentioned evidence of a reversal yesterday, especially: 1. No daily close above 1.2997 & 2.

The season of remake is still on in Indian film industry as more films are simultaneously getting remade in various regional languages. Salman Khan's yesteryear blockbuster Wanted was a remake of Telugu movie Pokkiri. All the three versions in Tamil, Telugu, and Hindi happen to be carrying record-breaking collections at box office.

Satires have always been welcomed by the Indian viewers and this has once more been proved by the superb response received by 'Tere Bin Laden', which released last Friday.

The film has already made Rs 50 million from all over the country.

Moreover, the flick is also doing fine in the European market.

The film has earned $150,000 from Britain, United Arab Emirates and Australia.

But, the movie has not been released in nations like Pakistan and the US.

Guns N' Roses, the hard rock band from the 80s, who once were called the `most dangerous band' in the world, would soon be embarking on their first ever major American tour in four years.