EURUSD : The EURUSD is holding below major trendline support at 1.48 since last 4 sessions. The bias is turning bearish in near term targeting 1.4625 levels (important moving average level). Only a Break of 1.4850 would make the bias bullish again. (EURUSD - 1.4731) Neutral to Bearish.
GBPUSD : Cable looks bearish in near term and continuous break below 1.62 levels would target 1.5850 (weekly lower Bollinger) levels soon. Please note that 1.62 is a very strong support of the long term weekly trendline. Look at shorts at 1.64 levels.(GBPUSD- 1.6252) Bearish.
USDJPY : The JPY has been strongly trading below the cluster resistance of 88.50 levels. Only & only a break of this strong resistance can lead the yen to 90 levels again. The charts are approaching the over-sold region and the strong support of 87.10 should hold. (USDJPY-87.93) Neutral.
AUDUSD : The AUD is holding below the weekly trendline and we are looking at 0.8800 levels soon. Shorts at 0.9150- 0.9180 levels can be initiated for 200 pips.(AUDUSD - 0.9130) Neutral to Bearish.
Gold : GOLD is strongly trading below the resistance of $1155 levels (21days EMA).Initiate shorts near this levels keeping stoploss $1180 targeting $1100-$1065 level. Comex Gold has immediate support at $1100 level. Stochastic is showing further downside correction. (Gold - $1129.55) Neutral to Bearish.
Dollar Index: The Dollar Index weakened on Wednesday as a rise in risk appetite in the financial markets led to higher equities and thereby lower demand for the low- yielding dollar. Traders may want to liquidate their long positions ahead of the long holiday and this could lead to selling pressure in equities. But rise in risk appetite today could keep the dollar's rise under check. We expect the dollar to weaken in today's trading session. It is trading above its 21-Day EMA. For the day, support is seen at 75.80/75.55 whereas resistance is seen at 76.30/76.55. (DI - 76.08) Neutral.