|EUR-USD @ 1.4353/57...Holding Long|
R: 1.4374 / 1.4424 / 1.4472
The Euro has risen towards 1.4483 yesterday and faced Resistance at the 1.4470-4500 region mentioned in the evening yesterday. It has recorded a low of 1.4334 since then. It may move up over the next couple of days after some consolidation between 1.4330-1.4400. We continue to reiterate that dips may be bought.
Holding: EUR 10K Long at 1.4350, SL 1.4290, TP Open
|EUR-JPY @ 132.12/15...Max high at 133.00|
R: 132.38-48 / 133.00 / 133.63
The Cross fell below the 8-DMA (132.22) that we were eyeing and has bounced thereafter. Further fall may take it towards 129.50. Else the upside target of 135 is still looking likely over this week. This could be led by a potential rise in Euro. For today, the Projected Max High and Low for the day is at 133.00 and 130.30 respectively.
|GBP-USD @ 1.5977/82...Continues to fall|
R: 1.6011-20 / 1.6046-52 / 1.6083-99
Cable has fallen further on bad consumer confidence numbers. Having broken below most of the major moving averages on the daily, it is likely to continue to move down towards the 55-week MA (1.5658). We have been continuously mentioning that once at 55-week MA, we shall have to assess the possibility of a break below this which would then confirm the formation of a double top pattern on the weekly.For today, the Projected Max High and Low for the day is at 1.6118 and 1.5832 respectively.
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