25th February 2011 – FX Daily Report by GFM Research

Dollar is expected to continue to trade in weaker territory, especially against the Euro and Cable, though it’s trading neutral against the Aussie Dollar. During past three days, despite sell of in Dow Jones Industrials, historic correlation was not observed between Dollar Index (DX) and Dow Jones Industrial average (.DJIA). Sublime volatility is expected through the European session; GDP figures may give further guidance to the Dollar trend.

FX Pair        Support 2         Support 1          Resistance 1         Resistance 2

EURUSD          1.3700               1.3750                 1.3872                  1.3953
GBPUSD          1.6070               1.6118                 1.6182                  1.6261
USDCHF              –                    0.9211                 0.9333                  0.9385
USDJPY            81.18                 81.60                   82.34                    82.60
EURJPY           112.20               112.85                 113.53                  114.25
AUDUSD          0.9978               1.0067                 1.0158                  1.0197

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Disclaimer: This report contains the views of GFM Research Private Limited. 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 Private Limited 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.