21st March, 2011 – Daily Forex report by GFM Research


The U.S dollar traded mixed against the major pair, especially the Japanese Yen, where in it has gained by more than 100 pips on Friday. Volatility is expected to continue due to volatile Japanese Yen. Dollar Index (DX) and Dow Jones Industrials (DJIA) correlation may not work due to divergence between FX majors and JPY.
Crude is trading firm above $103.00 NYMEX May basis, though profit booking was witnessed on Friday.

 


FX Pair        Support 2           Support 1           Resistance 1           Resistance 2


EURUSD            1.4015              1.4063                   1.4236                     1.4280
GBPUSD            1.6130              1.6177                   1.6261                     1.6320
USDCHF            0.8950               0.9009                   0.9050                     0.9100
USDJPY              80.00                80.50                     81.70                       82.00
EURJPY             112.90              113.75                   116.31                      116.31
AUDUSD            0.9900              0.9925                   1.0030                      1.0052


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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.