The EURUSD bias remains neutral in nearest term and the bearish scenario remains intact. Immediate resistance comes near 1.3750 (61.8% retracement levels with 200 days Weekly EMA). Initiate cautious shorts near these levels with tight stoploss of 1.3840 levels. (EURUSD - 1.3612).Neutral but Oversold.
GBPUSD is currently trading at 1.5018 levels and touched high of 1.5195 yesterday. Immediate strong resistance comes near 1.5250 - 1.5280 levels (21 days Daily Ema). Initiate shorts near these resistance levels with stoploss of 1.5340. (GBPUSD 1.5018). Neutral.
USDJPY is currently trading at 90.02 levels. Downside correction is expected till 89.40 levels. Importers in Yen may look at covers around 90.40 - 91.40. Overall the trend remains strong for yen below 93 levels. (USDJPY- 90.02).Bullish.
AUDUSD is currently trading at 0.9090 levels. Correction seems to be over for Australian dollar. Buying on dips remains the strategy. Further bullishness till 0.9250 levels is expected again. (AUDUSD - 0.9003) Bullish.
Gold moved up taking support from $1087 levels and holding above $1100 levels. Buying at dips close to $1100 levels remains the trategy. (Gold- $1120). (Rangebound)
Dollar Index is currently trading at 80.52 levels. Immediate support comes near 79.60 levels (100days Weekly EMA) and strong resistance comes near 81.80 (200 days Weekly EMA). Only and only if dollar index trades above 80 levels then could see further upside. Buying on dips on the index remains the strategy. (Dollar Index - 80.52). Bullish above 80 levels.