EURUSD fared some of the losses after falling to day’s low of 1.3508 and closed marginally on a positive note yesterday at 1.3593 against previous close of 1.3583. Dow Jones continued the rally for 6th consecutive day and settled 0.57 percent up at 12161.63 against previous close of 12091.77. Egypt crisis continued pressure on Crude oil prices, which tumbled almost $5 in last 6 days and closed at $87.42 yesterday. Copper fell due to profit booking at higher level after posing a new life time high of $4.6375 on COMEX. In case of EURUSD, till it trades above major support of 1.3488, medium term corrective pullback can be expected. Traders holding long in AUDUSD are advised to trail below 1.0083.
Instrument Trend Trading Strategy
EURUSD Sideways Up Buy in the ranges of 1.3558-1.3562 Double Sell: Below 1.3488 TGT1:1.3645 TGT2:1.3675
GBPUSD Sideways Sell in the ranges of 1.6228-1.6230 S/L: Above 1.6280 TGT:1.5980
USDCHF Up Buy at 0.9525-0.9528 S/L: Below 0.9450 TGT:0.9680
USDJPY Sideways Buy in the ranges of 81.75-81.80 S/L: Below 80.93 TGT1: 82.40 TGT2:82.92
EURJPY Up Buy in the ranges of 111.58-111.55, Double Sell: Below 110.77 TGT:113.94
AUDUSD Sideways Buy in the ranges of 1.0132-1.0125 Double Sell: Below 1.0083 TGT:1.0208
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