EURUSD   :   EURO has taken a strong trendline as well as 100 EMA support of 1.4670 levels in Daily chart. Stochastic is showing upside correction near the oversold region. Strong 21 EMA Resistance seen near 1.4840-1.4880 levels from where selling can be initiated for the target of 100 pips keeping stop loss above 1.4930 levels. (EURUSD - 1.4736) Bearish

GBPUSD   :  Cable could not hold below 1.63 levels for long. Currently it has been trading in a thin range but still looks bearish in near term. A break below 1.62levels would target 1.5850 (weekly lower Bollinger) levels soon. It is importent that 1.62 is a very strong support of the long term weekly trendline. Look at shorts at every uptick.(GBPUSD- 1.6309) Bearish.

USDJPY    : The JPY looks to be range-bound today between 89 levels on the higher side and 88.35 levels on the lower side.  A break of the 89 levels can lead it to test the next important resistance of 89.40(55 daily EMA). The daily charts are moving higher while the H4 charts are flat near the over-bought region. (USDJPY- 88.79) Neutral.

AUDUSD  : AUD is trading below the weekly trendline resistance and we are looking at 0.8800 levels soon. Shorts at 0.9150- 0.9200 levels can be initiated for 200 pips.(AUDUSD - 0.9158) Neutral to Bearish.

Gold         : GOLD is strongly trading below the resistance of $1155 levels (21days EMA).Initiate shorts near these levels keeping stoploss of $1178 targeting $1110-$1065 level. Comex Gold has immediate support at $1110 level. Stochastic is oversold to neutral. (Gold - $1135.15) Neutral to Bearish.

Dollar Index: The Dollar Index traded slightly lower as a pick-up in risk appetite led to decreased demand for the low- yielding currency. The Dow Jones closed in the positive territory, gaining 68 points yesterday to close at 10,405. Data indicated that the US trade deficit unexpectedly narrowed to $32.9 billion in October with the help of a weaker dollar. The US is expected to announce a host of economic data like retail sales, consumer sentiment and inflation expectations today. The dollar will take cues from the data and movement in equities. We expect the dollar to trade with a positive bias and strengthen. For the day, support is seen at 75.85/75.65 whereas resistance is seen at 76.20/76.35. (DI - 76.07) Neutral