EURUSD : The EURUSD is currently trading at 1.2549 (down 200 pips from yesterday) levels after touching a high of 1.3087 levels couple of days back. As expected retracement is OVER. As expected the euro has maintained selling (refer to previous updates) . We had advised exporters to cover at 1.30 levels for medium term (refer 3 days back update). We again look towards 1.24 levels to happen in 1 month timeframe. Bearish (EURUSD - 1.2549).
GBPUSD : GBPUSD is currently trading at 1.4625 levels (down by over 300 pips as expected ). The bias is bearish further down to 1.45 levels. We got some exporters covered few days back at 1.5050 levels (refer previous updates). 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 targeting 1.45 and below. (GBPUSD 1.4625). Bearish.
USDJPY : USDJPY is currently trading 92.92 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 usd /jpy lower everytime. Incase this continues further we may not see the yen weaker immediately. (USDJPY 92.92) Neutral.
AUDUSD : AUDUSD is currently trading at 0.8964 levels. We have got our importers covered at 0.8750 levels (refer Fridays report) . Exporters got booked couple days back at 0.9050 levels. Bias is bearish to 0.8700 again.(AUDUSD - 0.8964).
Gold : Gold is currently trading at $1236 levels and its bias is clearly on the upside. It had reached our target of 1st Target of $1200 dollars and 2nd target of $1240 levels. Buying on dips remains the strategy. (Gold- $1236) Bullish.
Dollar Index : The Index should push above 85.26, at a minimum. Dollar index's rise from 74.19 has accelerated 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 s! elling intensifies. Strong support comes near 82 levels . Dollar index is clearly bullish above 80 levels. (Dollar Index- 85.33) Overall Bullish