15th February 2011 – FX Daily Report by GFM Research

EURUSD continued weakness and settled at 1.3479 against previous close of 1.3547 after hitting three week’s low of 1.3428. Mixed moves were seen in remaining pairs with the Cable and Aussie Dollar showing signs of stagnation. Dow closed marginally lower at 12268.19 after narrow trading range during the day. DOW correlation is suggesting narrow trading ranges for most of the major pairs. Crude slipped below $85, first time since December 2010 and settled at 84.80

FX Pair              Support 2           Support 1           Resistance 1          Resistance 2

EURUSD              1.3365                1.3428                 1.3570                   1.3630
GBPUSD              1.5965                1.6022                 1.6077                   1.6113
USDCHF               0.9578               0.9660                 0.9786                   0.9989
USDJPY                 82.95                  83.15                   83.68                     84.50
EURJPY                111.44                112.35                 112.86                  113.78
AUDUSD              0.9946                1.0022                  1.0060                  1.0137

For timely trading calls contact us at

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.