EURUSD : The EURUSD is currently trading at 1.2743 levels after touching a high of 1.3087 levels yesterday. It has reached a low of 1.25 and retraced higher again towards 1.3087 levels and fe! ll again to 1.2720 today. It seems that the retracement is OVER. Overall the scenario remains bearish for Euro. We had advised exporters to cover at 1.30 levels for medium term yesterday (refer yesterday's update). We again look towards 1.24 levels to happen in 1-2 months timeframe. (EURUSD - 1.2743).
GBPUSD : GBPUSD is currently trading at 1.4838 levels. The bias is bearish further down to 1.45 levels. We got some exporters covered yesterday at 1.5050 levels (refer yesterday's update). We had expected Gbp to retrace majorly after 1.46 which has happened recently (Refer 1 week reports) . We are still bearish on the pair targetting 1.45 and below. (GBPUSD 1.4838). Bearish.
USDJPY : USDJPY is currently trading 92.72 levels. We have not seen a break of 94.50 consistently since so many days. Moroever we are witnessing a huge risk aversion in global markets pushing yen lower everytime. Incase this continues further we may not see the yen weaker immediately.! (USDJPY 92.72)Neutral.
AUDUSD : AUDUSD is currentl! y tradin g at 0.8984 levels. We have got our importers covered at 0.8750 levels (refer Fridays report) . Exporters got booked yesterday at .9050 levels. (AUDUSD - 0.8984). Neutral.
Gold : Gold is currently trading at $1204 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- $1204) Bullish.
Dollar Index : Dollar index's rise from 74.19 accelerates 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- 84.37) Overall Bullish.