The EURUSD is currently trading at 1.2200 breaking below our target of 1.2350 (please refer our earlier reports) .We had advised exporters to cover at 1.30 levels for medium term (refer week back update). Bearish-target 1.2000 & below . (EURUSD - 1.2200).
GBPUSD is currently trading at 1.4291 levels . The bias clearly bearish further down. We got some exporters covered few days back at 1.5050 levels (refer previous updates). We have reached our target of 1.45 levels as expected (Refer previous update). We are still bearish on the pair. Target 1.41 & below. Moving towards the target (GBPUSD 1.4291). Bearish.
USDJPY is currently trading 91.96 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. Please note that the yen is also not getting strong the way it should be , so any retracements in the currencies would push yen above 94. (USDJPY 91.96) Neutral.
AUDUSD is currently trading at 0.8555 levels. Exporters got booked few days back at 0.9050 levels. Target of .8700 achieved . Bearish Still. (AUDUSD - 0.8555).
Gold is currently trading at $1211.05 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. Start averaging gold at every levels till 1174 and hold for 70- 100 dollars move. (Gold- $12311.05) Bullish.
The Index has also reached our second target of 87.00. 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 (already reached) depending how fast stock market selling intensifies. Strong support comes near 85 levels . Dollar index is clearly bullish above 80 levels. Still room higher.(Dollar Index- 87.20) Overall Bullish.