The EURUSD is currently trading at 1.3460 levels. It has moved down due to global risk aversion on the news of China asset bubbles and Goldman Sachs fraud. Incase we see a continous risk aversion in a day or two we may see 100-200 points weaker euro in the days to come. Our exporter clients are booked more than 50% above 1.3600 levels for April and May. Importers have already taken significant covers near 1.33 levels earlier (refer last 15 days update). Please note that the Monthly charts are signalling that Euro is highly oversold and may strengthen further in the coming 1-2 months only and only if 1.3650 breaks on a consistent basis. Buying on dips remains the strategy till 1.3267 holds support. (EURUSD - 1.3450). - Neutral .

GBPUSD is currently trading at 1.5250 levels after opening with a BIG gap today . We had started covering for exporters from 1.55 levels onwards till April and May. Near term imports are already covered for clients (refer last 15 days update) around 67-68 levels. (GBPUSD 1.5250). Please note that the Monthly charts are signalling that GBP is highly oversold and may strengthen further till 1.58-1.60 levels in 2-3 months only and only if we see 1-2 closings above 1.55  levels. - Neutral .

USDJPY is currently trading 92.00 levels. Yen is taking strong resistance near 93.80 , break of this and 94.30 would move towards 98 levels. Weekly close above 92 levels has increased chances for a move towards a 96-98 levels. Importers hold for covers till 95 levels atleast. Buys could be initiated at dips around 91.30-70 levels with stoploss at 89 levels. Exporters who have not booked book for 2-3 months at current levels. (USDJPY- 92.00). Long Term (3-6 months) Target 100 and higher. WE JUST NEED A CONSISTENT BREAK OF 94.30 TO MAKE THIS HAPPEN.

AUDUSD is currently trading at 0.9190 levels. Importers cover on dips. Exporters in Aud may start booking from 0.9350 onwards partially. Since the Aud has increased interest rates and Gold is holding above 1135 dollars we would stay away from shorts. Buying on dips is recommended. (AUDUSD - 0.9190). Bullish .

Gold is currently trading at $1135 levels and it is continously moving up as expected. The bias is clearly on the upside since it has broken the band of 1080-1130 levels. Buy on dips remains strategy.(Gold- $1135) Bullish.

Dollar index drew support from 55 days EMA and recovered but at this point, there is no confirmation of rally resumption yet. Consolidation from 82.24 might still continue with another fall to 79.51 and below to correct the five wave rally from 74.19 to 82.24.  (Dollar Index 81.04) Bullish