Euro : EurUsd is currently trading at 1.4310 levels. Upside correction is expected till 1.4365 levels from where shorts can be initiated. Immediate support comes in at 1.4250 levels. Bias still remains bearish and shorts close to 1.4365-1.4400 levels can be taken for target of 120 pips and lower. Break below 1.4250 levels should keep the bearish scenario intact testing 1.4120 - 1.4150 levels. (EURUSD - 1.4322) Bearish.
Sterling : GBPUSD is currently trading at 1.5880 levels. Downside correction is expected till 1.5700 levels where buying can be initiated for the target of 150 -200 pips keeping stoploss below 1.5650 level. Immediate resistance comes around 1.6080 levels. Short term bias still remains bearish till 1.5700 levels untill 1.6200 level is held.(GBPUSD 1.5885) Bearish.
Yen : The JPY is currently trading in a rising channel pattern. Immediate resistance comes around 92.20 levels which if broken then could test next resistance level near 94.20 levels where shorts can be initiated for the target of 90 levels. Bias for USDJPY pair remains strong above 88.40 levels. (USDJPY- 92.16) Neutral.
Aud :AUDUSD is having an immediate resistance near 0.9000 levels (trendline and 55days EMA in daily chart). Our expectation of Aud below 0.9000 levels should continue the bearish momentum targeting near 0.8650 levels. Initiate shorts near 0.8960- 0.9010 levels for the target of 150pips. (AUDUSD - 0.8904) Bearish.
Gold : GOLD is currently trading at $1094.80 levels. It is likely to retrace till $1110.00 -$1120 levels (55 EMA). Initiate shorts near these levels for the target of 40 - 50 dollar. Immediate support comes around $1080 levels where cautious buying can be considered. (GOLD - $1094.35) Neutral.
Dollar Index: Dollar Index is currently trading at 78.10 levels 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 near 80 levels (DI - 78.02) Bullish.