EURUSD : The pair opened at the week above its 200 EMA in the daily chart, trading currently at 1.3275 levels. Eur/Usd sustained its trading and gained momentum post the non farm payroll data as traders looked biased towards Euro buying. The euro held support at 1.3270 levels, holding bullish tone. To the higher side, weekly target directs towards 1.3510 levels. We could witness correction till 1.30 levels in short to medium term. Bullish
GBPUSD : Cable remains capped under 1.6000 key psychological levels. Gbp/Usd has bullish bias and needs to break above mentioned levels to confirm continuation towards its next immediate resistance at 1.6073 levels. The charts seem to be highly overbought for the pair and ripe for 400-500 pips correction. Cautiously Bullish.
USDJPY : The pair tanked to 8-month low of 85.02 levels following weaker than expected US Non-Farm payroll data. Over the week, the greenback slipped 1.1% against Yen. Pair has support at 85.30 levels; break of same may see it moving towards 85.02 levels. On the upside it has resistance at 85.63 levels. Pair maintains bearishness.
AUDUSD : The AUD is currently trading at 0.9183 levels and touched the high of 0.9221 levels . One of the nature of price movement inside the rising wedge formation is the volume getting smaller, but a break from the formation has become a near possibility and a significant movement can be expected. Immediate support comes at 0.9000 area. (AUDUSD - 0.9183). Neutral to Bullish.
Gold : Gold is currently trading at 1209 levels. Most likely target could be 1120 dollars in case we see closing below 1190-1200 dollar for 3- 4 days. Please note that risk will push the gold on the downside as 1266.5 resistance holds, and we'd expect another decline sooner than later. (Gold- 1209)
Dollar Index : The Dollar index is currently trading at 80.38. The current decline from 88.70 is treated as a correction to medium term rally from 74.19. We'd stay bearish with 83.45 resistance intact and extend the current fall to extend towards 80.04, which is close to 80 psychological level as well as 61.8% retracement at 79.80. Hence, the greenback would continue to be soft for a while in general. Nevertheless, downside should be contained there to conclude the correction and bring rebound. Break of 83.45 will indicate that dollar index has bottomed and should then bring strong rebound towards 85.09/86.42 resistance zone. (Dollar Index- 80.38) Neutral.