Euro : The! EURUSD is currently trading at 1.2680 levels after touching a low of 1.2500 levels yesterday. It has reached our target of 1.30 levels and lower. Overall the scenario remains to the Bearish in Euro . Good levels for importers to cover medium term 1-2 months. We might make a temporary bottom close to 1.25-1.26 levels for 400-500 pips or more.(EURUSD - 1.2680).
Pound : GBPUSD is currently trading at 1.4650 levels. The bias is bearish further down to 1.45 levels. We have already advised exporters at higher levels. (refer previous reports). Importers cover rest of imports in current levels. Gbp has already fallen down lot it would retrace with a bang shortly. Bearish below 1.5400 levels.(GBPUSD 1.4650).
Yen : USDJPY is currently trading 91.96 levels. A break above 94.30 (2 days close), we could target 97-98 levels. Weekly close above 92 levels has increased chances for a bearish move for the yen currency. Importers hol! d for medium term covers. (USDJPY- 91.96). Long Term (3-6 mont! hs) targ et 98 and higher. WE JUST NEED A CONSISTENT BREAK OF 94.30 TO MAKE THIS HAPPEN.
Aud : AUDUSD is currently trading at 0.8863 levels. Importers in Aussie cover around from current levels to .8650 levels for May. Exporters in Aussie may wait for booking as of now incase they have not booked at higher levels. Since the Australian currency is overall hawkish and Gold is also holding higher the bias has still not changed. (AUDUSD - 0.8863). Neutral.
Gold :Gold is currently trading at $1200 levels and its bias is clearly on the upside. It had reached our target of 1200 dollars yesterday. Support in Gold comes near $1158. Buying on dips remains the strategy. (Gold- $1200) Bullish.
Dollar :Dollar index's rise from 74.19 accelerates today after staying firm above upper channel resistance. The powerful impulsive move is in line with our view that rise from 74.19 is resuming the long term ! up trend from 70.70. We'd expect a test on 87 high sooner or later depending how fast stock market selling intensifies. Strong support comes near 82 levels . Dollar index is clearly bullish above 80 levels. (Dollar Index- 84.84) Overall Bullish.