EURUSD : EURO is holding below the 100 day EMA in daily charts. Its moving according to our expectation and the 1st target of 1.44 has reached. We would be looking at the next crucial target of 1.42 levels. Bias still maintains bearish and shorts close to 1.4580 can be taken for target of 200 pips and lower. (EURUSD - 1.4407) Bearish.
GBPUSD : Cable is maintaining its crucial support again at 1.62 levels. Currently it has been trading in a thin range but still looks bearish in near term. A break below 1.62 levels would target 1.5850 (weekly lower Bollinger) levels soon. It is important that 1.62 is a very strong support of the long term weekly trendline.Our Shorts close to 1.6380 levels have fetched us more than 100 pips . Further shorts on rises can be undertaken. (GBPUSD- 1.6263) Bearish.
USDJPY : The JPY maintains bearish bias and moved above 90 plus levels as expected. We still maintaining bearish bias for yen targeting 93 plus. (USDJPY- 90.03) Neutral.
AUDUSD : AUD is trading below the weekly trendline resistance and we are looking at 0.8800 levels soon. Shorts at 0.9150 are fetching good profits and target still remains 0.8850 to cover shorts once.(AUDUSD - 0.8919) Bearish.
Gold : Gold recent move seems to have made a top already at 1200 plus levels. Shorts at 1138 were recommended and can be held for target of 1120 dollars. Shorts are favored in near term overall and longs can be initiated only at a level of 1080 dollars. (Gold - $1131.05) Neutral to Bearish.
Dollar Index: The Dollar Index break of 76.82 resistance and sustained trading above 55 days EMA confirms that a medium term bottom is in place at 74.10 already. We're remaining bullish on the dollar index as long as 75.58 resistances turned support holds. Further rise is expected to be seen to 38.2% retracement of 89.62 to 74.19 at 80.08, as a correction to fall from 89.62, in the least bullish scenario. (DI - 77.37) Neutral to Bullish