EURUSD : The EURUSD is currently trading at 1.2964 levels after touching a low of 1.2500 levels few days back. It has reached a low of 1.25 and retraced higher agai! n towards 1.2960 levels. Overall the scenario remains to the Bearish in Euro . Good levels for exporters to cover medium term . We had expected a temporary bottom close to 1.25-1.26 levels and bounce back 400-500 pips or more. (refer last 1 week reports) (EURUSD - 1.2964).
GBPUSD : GBPUSD is currently trading at 1.4882 levels. The bias is bearish further down to 1.45 levels. Exporters should cover from 1.49-1.52 levels. We had expected Gbp to retrace majorly after 1.46 which has happened recently (Refer 1 week reports) . Bearish below 1.5400 levels.(GBPUSD 1.4882).
USDJPY : USDJPY is currently trading 92.87 levels. A break above 94.30 (2 days close), we could target 97-98 levels. Importers hold for medium term covers. (USDJPY- 92.87). Long Term (3-6 months) target 98 and higher. WE JUST NEED A CONSISTENT BREAK OF 94.30 TO MAKE THIS HAPPEN.
AUDUSD : AUDUSD is currently trading at 0.9050 levels. We hav! e got our importers covered at .8750 levels (refer Fridays report).;Exporters in Aussie may start booking at .9050 levels and higher (AUDUSD - 0.9050). Neutral.
GOLD : Gold is currently trading at $1198 levels and its bias is clearly on the upside. It had reached our target of 1200 dollars . Buying on dips remains the strategy. Target 1240 dollars. (Gold- $1198) Bullish.