Wednesday, April 21, 2010

Update Daily Invesment News

Daily Forex Technicals |    Written by India Forex
The EURUSD is currently trading at 1.3410 levels. Our exporter clients are booked more than 50% above 1.3600 levels for April and May. Importers have already taken significant covers near 1.33 levels earlier (refer last 16 days update). Please note that the Monthly charts are signalling that Euro is highly oversold but only and only if 1.3650 breaks and closes for 1-2 sessions it can move higher otherwise selling on upmoves would be preferred for exporters till 1.3650. Bearish below 1.3650 levels. (EURUSD - 1.3410).
GBPUSD is currently trading at 1.5366 levels and moved up after opening with a BIG gap on Monday. We had started covering for exporters from 1.55 levels onwards till April and May. Near term imports are already covered for clients (refer last 16 days update) around 67- 68 levels. Please note that the Monthly charts are signalling that GBP is highly oversold and only and only if it strengthens above 1.55 on 1-2 closing basis it could move higher. - Bearish below 1.5600 levels. (GBPUSD 1.5366)
USDJPY is currently trading 93.14 levels. Yen is taking strong resistance near 93.80 & 94.28, break of these would move towards 95-98 levels. Weekly close above 92 levels has increased chances for a move towards a 96-98 levels. Importers hold for covers till 95 levels atleast. Buys near 91.70 are already fetching us 100 pips. (USDJPY- 93.14). Long Term (3-6 months) Target 98 and higher. WE JUST NEED A CONSISTENT BREAK OF 94.30 TO MAKE THIS HAPPEN.
AUDUSD is currently trading at 0.9321 levels. Importers cover on dips. Exporters in Aud may start booking from 0.9350 onwards partially. Since the Aud has increased interest rates and Gold is holding above 1135 dollars we would stay away from shorts. Buying on dips is recommended. (AUDUSD - 0.9321). Bullish.
Gold is currently trading at $1142 levels and it took support from 55 days moving average at 1124 levels . We feel the bias is clearly on the upside . Buy on dips remains strategy.(Gold- $1142) Bullish.
Dollar index drew support from 55 days EMA and recovered but at this point, there is no confirmation of rally resumption yet. Consolidation from 82.24 might still continue with another fall to 79.51 and below to correct the five wave rally from 74.19 to 82.24. Overal likely to be bullish (Dollar Index 81.18) Bullish.

Daily Forex Technicals |    Written by FXtechtrade
Today's support: - 1.3365(main), where correction is possible. Break would give 1.3341, where correction also may be. Then follows 1.3326. Break of the latter would result in 1.3303. If a strong impulse, we would see 1.3276. Continuation will give 1.3240 and 1.3187.
Today's resistance: - 1.3461, 1.3507, 1.3538 and 1.3566(main). Break would give 1.3595, where a correction is possible. Then goes 1.3616. Break of the latter would result in 1.3637. If a strong impulse, we'd see 1.3686. Continuation will give 1.3703.
Today's support: - 92.46, 92.14, 91.63 and 91.46(main). Break would bring 91.14, where correction is possible. Then 90.91, where a correction may also happen. Break of the latter will give 90.67. If a strong impulse, we would see 90.44. Continuation would give 90.25 and 90.11.
Today's resistance: - 93.39 and 93.60(main), where a correction may happen. Break would bring 93.96, where also a correction may be. Then 94.12. If a strong impulse, we would see 94.37. Continuation will give 94.72.
Today's support: - 11058.46, 11036.23 and 10983.34(main), where a delay and correction may happen. Break of the latter will give 10945.30, where correction also can be. Then follows 10906.87. Be there a strong impulse, we shall see 10867.42. Continuation will bring 10843.16.
Today's resistance: - 11138.54 and 11166.35(main), where a delay and correction may happen. Break would bring 11173.30, where a correction may happen. Then follows 11208.63, where a delay and correction could also be. Be there a strong impulse, we'd see 11235.45. Continuation would bring 11255.63.

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