EURUSD : The bias remains neutral in nearest term and the major bearish scenario remains intact. The hourly to daily charts are highly oversold hence in correction mode and retracements towards 1.39 is expected. Selling may not be initiated fresh. (EURUSD - 1.3632). Upside Correction Mode.

Sterling : The GBPUSD fell with a bang post the discount rate hike by the FED and the bias remains neutral in nearest term and we may see an upward correction to maintain. Please note that the weekly and daily charts are oversold and correction seems to be due towards 1.58 levels. Only a sustained break of 1.5800 would negate the bearish scenario. Strong support holds around 1.5350 levels. (GBPUSD – 1.5476). Upside Correction mode

Yen : USDJPY is currently trading at 91.80 levels momentum is building on the upside. Upside correction is expected near 93 levels. Resist initiating shorts for the pair due to increased risk appetite in global commodities and equities. (USDJPY- 91.80). Signs of bearishness developing.

Aud : AUDUSD is currently trading at 0.9000 levels. Correction seems to be over for Australian dollar and up move again resumed. Buying on dips remains the strategy. Further bullishness till 0.9250 levels is expected. (AUDUSD - 0.9000) Bullishness

Gold : Since gold has been moving up constantly and holding above $1090 levels. It is bullish in medium term again. Buying on dips is recommended for $1150 target. (Gold-$1124) Bullish

Dollar Index: cDollar index has looks to be in slight correction mode and dips below 80 levels are possible. Medium term view remains bullish. (Dollar Index – 80.45). Bullish above 80 levels.

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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.