14th February 2011 – FX Daily Report by GFM Research

Dollar rallied against almost all major pairs on Friday. USDCHF and USDJPY remained firm during whole of last week to finally close positive st 0.9736 and 83.43 respectively. We are expecting USDCHF and USDJPY to rally further on trading consistantly above major resistance of 0.9786 and 83.68 respectively. The common currency settled at 1.3545 after hitting day’s low of 1.3497. Of the major pairs only Aussie Dollar showed reselience at the lower ranges. Dow Jones (.DJIA) settled with positive note at 12273.26 though some of the oscillators are indicating over bought condition.

FX Pair             Support 2             Support 1          Resistance 1          Resistance 2


EURUSD
             1.3365                     1.3436                 1.3609                   1.3624
GBPUSD             1.5630                     1.6000                 1.6075                   1.6221
USDCHF             0.9578                     0.9675                 0.9764                   0.9989
USDJPY              82.65                        82.95                   83.90                     84.50
EURJPY              111.30                     112.25                 113.45                   114.01
AUDUSD             0.9945                    0.9945                 1.0077                    1.0100

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Disclaimer: This report contains the viewpoints of GFM Research. 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 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.