Daily Technical Analysis Forex/DJIA/Gold

Daily Forex Technicals | Written by India Forex
Rupee: We still maintain its bearish bias till USD/INR stays above 48.40-50 (downward trendline) on a closing basis. It is headed towards 50 and higher..We are anticipating further weakness in commodities & stock markets across the globe to the extent of 7-8 percent on an average. Risk aversion being the prime reason. Bearish.(USD/INR : 48.75)
Euro :Euro maintains bearishness until it has 2 closing above the short term trendline of 1.41. Look for a break of 1.38 soon to target 1.3450. Look at opportunities to go short. Bearish(Eur/Usd:1.3980)
Sterling :Sterling maintains clear bearish bias till it holds below 1.6400 levels targetting 1.60 and next target 1.57. Look at opportnuities to go short. (Gbp/Usd: 1.6324) Bearish.
Yen : Yen reached our TARGET of 92. Despite a bout of fresh dollar weakness across the majors like Euro and Pound , Yen maintained its strength across the dollar SHOWING SIGNS OF RISK AVERSION . Target 90 and lower. Go long at Yen at upswings .(USD/JPY : 93.53 ) Bullish
Aud :Aud remains bearish since we still maintain sell off in gold and crude . Look for short opportunities once we again see a bout of risk aversionTarget 0.7500 Bearish (Aud/Usd: 0.7940).
Gold : Gold almost reached our TARGET OF 900 dollars and bounced back again to $ 927 and we maintain bearishness bias .Still bearish for a target of 875 dollars.(Gold- $925.80). Bearish.
Dollar Index : Dollar index extends the rebound from 79.56 and is set to take on 80.94. We're anticipating a break of 80.94 resistance to signal resumption of till 82.62 (38.2% retracement of 89.62 to 78.93 at 82.64). (DI- 80.10) Bullish
Daily Forex Technicals |
EUR/USD
Today's support: - 1.3943, 1.3898 and 1.3860(main), where correction is possible. Break would give 1.3823, where correction also may be. Then follows 1.3790. Break of the latter would result in 1.3767. If a strong impulse, we would see 1.3740. Continuation will give 1.3726 and 1.3684. Today's resistance: - 1.4027 and 1.4050(main). Break would give 1.4077, where a correction is possible. Then goes 1.4096. Break of the latter would result in 1.4136. If a strong impulse, we'd see 1.4153. Continuation will give 1.4176.
USD/JPY
Today's support: - 93.00, 92.64, 92.26 and 91.80(main). Break would bring 91.62, where correction is possible. Then 91.36, where a correction may also happen. Break of the latter will give 91.14. If a strong impulse, we would see 90.86. Continuation would give 90.47 and 90.21. Today's resistance: - 93.88, 94.27 and 94.50(main), where a correction may happen. Break would bring 95.00, where also a correction may be. Then 95.36. If a strong impulse, we would see 95.78. Continuation will give 96.43.
DOW JONES INDEX
Today's support: - 8302.43 and 8271.28(main), where a delay and correction may happen. Break of the latter will give 8250.00, where correction also can be. Then follows 8212.46. Be there a strong impulse, we would see 8184.37. Continuation will bring 8156.20. Today's resistance: - 8376.18(main), where a delay and correction may happen. Break would bring 8413.20, where a correction may happen. Then follows 8436.50, where a delay and correction could also be. Be there a strong impulse, we'd see 8457.40. Continuation would bring 8494.70.