30th March, 2011 – Daily Forex report by GFM Research

Dollar Index (DX) is trading at the key resistance of 76.60 ranges; DX consistently trading above 76.70 would post short term bottom, else it may trade range bound between 76.50 and 75.50. The Greenback is trading mixed against the other majors wherein the Aussie Dollar remained strong for most of the trading session; the Cable has stabilized at the lower ranges of 1.6000 ranges. The U.S Dollar is trading firm against the Japanese Yen beyond 82.00 after witnessing huge volatility during mid March, 2011.
The Dow (DJIA) is trading firm though it may face resistance at historic resistance zone of 12300-12400. NYMEX Crude, May basis is trading neutral at $104.50 ranges after finding support at $102.70 ranges

 


FX Pair         Support 2          Support 1            Resistance 1          Resistance 2


EURUSD          1.4018                 1.4050                   1.4173                   1.4247
USDJPY            81.80                   82.20                     83.65                    84.40
GBPUSD          1.5895                 1.5960                    1.6073                  1.6110
USDCHF          0.9150                 0.9180                    0.9230                   0.9300
EURJPY           114.70                 115.80                    117.00                  117.46
AUDUSD          1.0210                 1.0260                    1.0374                       –


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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.