Historic correlation between DX Vs DJIA suggests the long-term trend is still dollar bearish till the Dollar Index is not closing above 84.50 on monthly basis. Even the medium term trend has turned bearish after the Dollar Index breached 81.00 ranges and with immediate support seen in 78.70-78.20 ranges.
NYMEX Crude slipped again by more than 1USD after hitting intermediate support of $87.80 ranges. Short term trend is sideways with $87.15 ranges acting as key support and $94.10 range acting as resistance.
USDJPY Sideways-Down 79.00 78.80 78.40 78.10
GBPUSD Down 1.6170 1.6130 1.6060 1.6020
USDCHF Sideways-Up 0.9370 0.9340 0.9270 0.9240
EURJPY Sideways-Down 104.00 103.10 101.60 101.20
AUDUSD Down 1.0250 1.0210 1.0130 1.0090
+91-40-40268383
support@gfmresearch.com
www.gfmresearch.com
Note:
Economic Data Source: www.briefing.com
GMT- Greenwich Mean Time, ET-Eastern Time (U.S), IST-Indian Standard Time
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.