EURUSD : EURUSD had a bearish momentum yesterday, bottomed at 1.3929 and closed at 1.4010. Only a break of 1.40 levels on a sustained basis would make the pair bearish. Immediate resistance at 1.4020 area which if broken then next target of 1.4120 strong resistance. (EURUSD-1.4017) Neutral

Sterling : GBPUSD is currently trading at 1.6190 levels and and is having a strong resistance of 1.6250 level (trendline Resistance). Downside correction is expected near 1.6100 levels (trendline support).Break above the trendline resistance should trigger further bullish momentum towards 1.6456 area while break below the trendline support should trigger further bearish momentum testing 1.6000/40 area before aim for 1.5800 levels.(GBPUSD - 1.6190) Neutral

Yen : The JPY is currently trading at 90.20 levels and is having a strong resistance of 91.20 levels. Yen is holding bullishness and targeting 88.40 levels and even lower due to increased risk aversion. (USDJPY- 90.20) Bullish.

Aud : The Australian dollar is correcting due to increased risk aversion and gold selling . Good support is located close to 0.8920-.0.8980 levels. Buying close to 0.8900 levels is recommended.(AUDUSD-0.9006) Cautious Bullish

Gold : GOLD is currently trading around $1088 levels and is having immediate resistance near $1100 which if broken then could see strong resistance near $1118 where shorts can be initiated for the target of 30 dollars , stoploss above 1128 levels. (Gold-$1088) Bullish

Dollar Index: Dollar Index is currently trading near 78.80 level .We expected further bullish scenario towards 80 levels. Bias remains bullish only if sustained trading above 78.50 levels otherwise Rangebound. (DI -78.80). Neutral.

India Forex
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DISCLAIMER

These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsible for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.

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