The EURUSD is currently trading at 1.2584and in a very short term correction mode. It has already reached 1.26 levels (refer yesterdays view) Exporters and traders should go short euro around there 1.26-1.28 for a target of 1.20- 1.22 and below. We had advised exporters to cover at 1.30 levels for medium term (refer week back update). Bearish-target 1.2000 & below . (EURUSD - 1.2584).
GBPUSD is currently trading at 1.4420 levels . The bias clearly bearish further down but in short term we might see a move till 1.45-1.47 levels . We can cover for exports there. We got some exporters covered few days back at 1.5050 levels (refer previous updates) .We are still bearish on the pair. Target 1.41 & below in medium term. (GBPUSD - 1.4420).Bearish.
USDJPY is currently trading 90.12 levels. We have seen a 89-90 levels due to increased risk aversion. Stay short on the USD/JPY pair . The trend for the pair is bearish. Importers cover yen at 92 levels. (USDJPY 90.12) Neutral.
AUDUSD is currently trading at 0.8290 levels. Exporters got booked few days back at 0.9050 levels. Target of .8000 expected in medium term. Bearish Still. (AUDUSD - 0.8290).
Gold is currently trading at $1180 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- $1180) 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). Strong support comes near 85 levels . Dollar index is clearly bullish above 80 levels. Still room higher .(Dollar Index- 85.57) Overall Bullish.