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Euro : Euro is currently trading at 1.3701
levels. Upside correction is expected till 1.3750. Do not initiate longs until
we see 2 higher consequtive closings. Initiate shorts near 1.3750 levels with
stoploss above 1.3800. Range for the day could be 1.3750 to 1.3480. (EURUSD -
1.3701) Bearish
Yen : The JPY is holding strong and expected to be stronger targeting 88.40 levels and even lower due to increased risk aversion. Only a break of 93.00 levels would change the bias of the Yen. (USDJPY- 89.39) Bullish.
Aud : AUDUSD is
currently trading at 0.8695 levels. Staying below .8800 continously could only
move the pair to .8450 levels. (AUDUSD - 0.8695) Neutral.
Gold : Gold tested the
highs of $1074.3 levels (near our target of $1075 levels) from where it was
pushed down to $1066 levels. Sideways trading is expected in gold due to some
gains expected to be seen in other currencies. Resistance of $1070- $1075
levels looks good where selling can be expected for near term gains. (Gold-$1068)
Neutral.
Dollar Index: Dollar index is consistently holding above 80 levels
and some consolidation is expected around these levels until $80.68 levels are
held on higher side. Euro which constitutes the maximum chunk of DI tested the
lows of 1.3584 levels on Friday evening, however has corrected till 1.3700
levels. Overall dollar looks to be strong in short-term.(DI -80.17). Short-term Bullish.
EURUSD Chart
USDCHF Chart
