28th March, 2011 – Daily Forex report by GFM Research

U.S Dollar strengthened smartly after finding support at 75.50 (Dollar Index-DX) during the last week. The Japanese Yen stabilized against the Greenback and the Common Currency during last week, resulting in the USD appreciating across the board except against the Aussie Dollar.
Historic correlation between the Dow Jones Industrials (DJIA) and the Dollar Index (DX) was not observed during last week, though there are signs of DJIA yielding at the higher ranges of 12300 which happens to be the historic congestion zone.
NYMEX crude is trading firm at $105 ranges, but unable to get past $106 during last couple of trading sessions.

 


FX Pair       Support 2         Support 1            Resistance 1          Resistance 2


EURUSD         1.3970              1.4000                  1.4116                    1.4150
USDJPY           80.60                81.20                    82.20                     83.60
GBPUSD         1.5895              1.5960                  1.6110                    1.6160
USDCHF         0.9123              0.9195                  0.9300                     0.9340
EURJPY          113.45              114.15                  116.31                    116.64
AUDUSD         1.0080              1.0190                  1.0320                         –


For trading calls, contact us at
+91-40-40268383
support@gfmresearch.com
www.gfmresearch.com

Disclaimer: This report contains the views of GFM Research Private Limited. This report should not be construed as investment/trading advice. Due care is taken when gathering the data/information and the data sources are believed to be reliable, though GFM Research Private Limited nor its Group Companies guarantee for the same. Trading/investing in financial markets may result in financial and/or emotional stress, a trader/investor is advised to weigh pros and cons of trading/investing. Further disclaimer will be produced on request.