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EURUSD : EURUSD has broken the levels of 1.40 twice and aiming close to next important support at 1.3763 levels. Be cautious incase 1.4100 levels break confidently again. (EURUSD–1.3935) Bearish
Sterling : GBPUSD is currently trading at 1.6130 levels and and is having a strong resistance of 1.6250 level (trendline Resistance). Downside correction is expected near 1.60 levels. Since Euro is leading the show with further bearishness we could test 1.5800 levels.(GBPUSD – 1.6130) Bearish
Yen : The JPY is currently trading at 89.90 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- 89.90) Bullish
Aud : The Australian dollar is correcting due to increased risk aversion and gold selling . Good support is located close to 0.8900 levels. Buying close to 0.8900 levels is recommended.(AUDUSD-0.8900) Cautious Bullish
Gold : GOLD is currently trading around $1081 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. Resist shorts at spot. (Gold- $1081) Bullish.
Dollar Index: Dollar Index is currently trading near 79.01 levels. We expected further bullish scenario towards 80 levels. Bias remains bullish only if sustained trading above 78.50 levels otherwise Rangebound. (DI -79.01). Neutral.
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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. |
