EURUSD managed to post second consecutive positive close at 1.3625 against previous close of 1.3593 – just trying to set in bullish momentum once the daily closing happens beyond 1.3700 ranges. 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. USDJPY is expected to hover in a tight range of 81.70-82.93. GBPUSD likely to continue yesterday’s decline and may test support level of 1.5990 before rallying further. USDCHF, holding support of 0.9515, is all set to test 0.9670 beyond which further weakening of Swiss Franc can he expected. Dow Jones continued the rally for seventh straight day and climbed the most since June 2008 to settle at 12233.15 yesterday. Crude Oil Prices settled slightly lower at $87.40 after recovering smartly from $85.88.
Instrument Trend Trading Strategy
EURUSD Sideways Up Buy in the ranges of 1.3588-1.3585 S/L: Below 1.3545 TGT:1.3680
GBPUSD Down Sell in the ranges of 1.6100-1.6110 S/L: Above 1.6163 TGT:1.5990
USDCHF Up Buy in the ranges of 0.9565-0.9563 S/L: Below 0.9515 TGT1:0.9670
USDJPY Sideways Range bound between 81.70-82.93
EURJPY Up Buy in the ranges of 111.85-111.89, S/L: Below 111.50 TGT:113.80
AUDUSD Sideways Buy in the ranges of 1.0132-1.0130 Double Sell: Below 1.0083 TGT:1.0203
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