EURUSD : The EURUSD broke below major trendline support at 1.48 levels. The bias is neutral in nearest term as we still need consistent move below 1.4820/1.4800 to continue the bearish scenario. Break of 1.50 would make the bias bullish again. (EURUSD - 1.4835) Neutral.
GBPUSD : The GBPUSD made indecisive movement yesterday, formed a Doji on daily chart and slipped below the trendline support and bottomed at 1.6312 but further bearish pressure was rejected as the pair closed much higher at 1.6453 and now back above the trendline support. Shorts can be initiated at 1.6550 levels for target of 200 pips.(GBPUSD - 1.6443) Bearish.
USDJPY : The JPY had corrected lower yesterday, bottomed at 89.03, closed at 89.34 and keep moving lower earlier today in Asian session around 88.85. The major bearish scenario should remain intact but the bias is neutral in nearest term. Immediate support is seen at 88.8050 area. Initial resistance at 90.30/70 area.(USDJPY-88.82) Neutral
AUDUSD : The AUD formed a Doji on daily chart. The price attempted to push lower, bottomed at 0.9051 but closed higher at 0.9145. The bearishness stays intact since the price still stays below the trendline. Immediate support at 0.9090. Break below that area should trigger further bearish momentum testing 0.9030. Initial resistance at 0.9180.(AUDUSD - 0.9124) Neutral to Bullish.
Gold : Gold soared to new record high of 1227.5 last week but failed to sustain above 1200 level and dropped sharply to close at 1162.3. While a short term top is no doubt in place at 1227.5, it's still a bit early to call for reversal yet. We'll stay neutral for the moment and expects some sideway trading between 1130.1 and 1227.5 first. There could still be at least one more rise in gold towards medium term projection target at 1258 before turning into medium term consolidation. However, sustained break of 1130.1 will suggest that rise from 931.3 has completed and deeper correction could then be seen towards 55 days EMA (now at 1092.9).(Gold - $1166) Neutral
Dollar Index : The rally in the dollar index affirms that rebound from 74.19 is still in progress and should now be targeting 161.8% projection at 76.52 next. Break there will suggest that the rise from 74.91 is developing into an impulsive wave which adds more credence to the case that the bullish case that the index has bottomed out in medium term at 74.19. We're looking at the prospect of rally to 38.2% retracement of 89.62 to 74.19 at 80.08 in the least bullish scenario. On the downside, though, below 75.49 minor support will turn intraday bias neutral.(DI - 75.65) Neutral.