28th February 2011 – FX Daily Report by GFM Research

EURUSD may find stiff resistance at 1.3955 ranges. Common Currency fell after taking resistance near high of 1.3861 made on February 02, 2011 and settled lower at 1.3751, halting two days rally. EURUSD is showing bit of consolidation in a broader range of 1.3420-1.3955 with buying opportunity seen at 1.3450 ranges and selling opportunity seen at 1.3955. DJ Closed higher at 12130.45 ending three days decline but need to sustain above 12155 for continuing upward momentum. 

FX Pair       Support 2       Support 1        Resistance 1          Resistance 2

EURUSD         1.3511             1.3662              1.3835                    1.3953
GBPUSD         1.6000             1.6060              1.6131                    1.6174
USDCHF         0.9192             0.9234              0.9300                    0.9445
USDJPY             –                    81.05                82.10                      82.84
EURJPY          111.00             111.37              112.80                    113.16
AUDUSD         0.9987             1.0095              1.0211                        –

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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.