Euro : EURO is trading below the 200 days EMA in daily charts and yesterday attempted to push higher; topped at 1.4336 and closed at 1.4250.It should lead us to further bearish scenario with technical target at 38.2% retracement with 55Days monthly EMA around 1.4120 level which is a key support level. Bias still remains bearish and shorts close to 1.4300-1.4340 can be taken for target of 150 pips and lower. (EURUSD - 1.4248) Bearish.
Sterling : GBPUSD continued its bearish momentum yesterday break below 1.6000 levels, bottomed at 1.5920 and closed at 1.5958. Like our yesterday's view when 1.6000 area is broken it should lead us to further bearish scenario at least targeting 1.5750 level.Immediate resistance at 1.5980 - 1.6040 area. Initiate shorts near these levels for the target of 150 -200 pips keeping stoploss above 1.6100 level.(GBPUSD 1.5954)Bearish
Yen : The JPY maintains bearish bias and moved above 91.70 plus levels. We still maintaining bearish bias for yen targeting 93 plus. (USDJPY- 91.69) Neutral.
Aud : AUDUSD had a moderate bearish momentum yesterday, bottomed at 0.8740. The bias should remain on the downside. Our expectation of Aud below 0.8800 levels should continue the bearish momentum targeting near 0.8650 levels before testing key support level around 0.8450 levels. Immediate resistance at 0.8800 - 0.8840 where shorts can be seen for the target of 150pips.(AUDUSD - 0.8757)Bearish.
Gold : GOLD maintains bearish bias and moved to $1075 levels as expected. Shorts are favored in near term overall and longs can be initiated only near $1040-50 levels. (GOLD $1084) Neutral to Bearish.
Dollar Index : The break of 76.80 resistances for Dollar Index and sustained trading above 55 days EMA confirms that a medium term bottom is in place at 74.10 already. We're remaining bullish on the dollar index as long as 76.80 resistances turned support holds. Further rise is expected to be seen to 38.2% retracement of 89.62 to 74.19 at 80 levels, as a correction to fall from 89.62, in the least bullish scenario. (DI - 78.28) Neutral to Bullish