EURUSD : EUR made a short term reversal and moved close to 1.38 levels yesterday but reversed again moving below 1.36 levels. The bias remains slight bullish in near term though the long term bearish scenario remains intact. Staying above 1.3750 would trigger bullishness for the pair. (EURUSD - 1.3580) Rangebound.

Sterling : The GBPUSD has also made a short term reversal yesterday and the bias remains slight bullish in nearest term. Avoid Shorts at the current moment. (GBPUSD – 1.5665). Slight Bullish.

Yen : USDJPY is currently trading at 90 levels momentum is building on the upside. Upside correction is expected near 92 - 93 levels. Resist initiating shorts for the pair due to increased risk appetite in global commodities and equities. (USDJPY- 90.80). Signs of bearishness developing.

Aud : AUDUSD is currently trading at 0.8990 levels. Correction seems to be over for Australian dollar and upmove again resumed. Buying on dips remains the strategy. Further bullishness till 0.9250 levels is expected. (AUDUSD - 0.8990) Bullishness

Gold : Since gold has been moving up constantly and holding above $1090 levels. It is bullish in medium term again. Buying on dips around $1103-$1090 is recommended. (Gold- $1105) Bullish

Dollar Index: Dollar index has again moved up above 80 levels but the direction seems to be slight unclear since its moving in tight range. Slight bearishnes is creeping in at least for short tem. (Dollar Index – 80.56) Short-term Bearishness

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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.