Key equity index of Dow Jones Industrials (DJIA) has found support again in the ranges of 10500-10600 ranges posted smart recovery to currently trade at 11400+ ranges; 11500-11680 is expected to act as intermediate resistance. Historic correlation between DJIA Vs DX suggests short-term top being posted in the USD and short-term bottom being posted in the Dow.
In NYMEX November Crude though the short-term bottom has been posted with immediate targets being $86.00 and $88.40, now that the prices are nearing the resistance zone, mild profit taking may be witnessed.
FX Pair Support 2 Support 1 Resistance 1 Resistance 2
EURUSD 1.3640 1.3700 1.3850 1.3875
USDJPY – 76.00 77.40 78.00
GBPUSD 1.5650 1.5690 1.5770 1.5800
USDCHF 0.8780 0.8920 0.9020 0.9065
EURJPY 104.20 105.00 106.40 108.00
AUDUSD 0.9980 1.0085 1.0270 1.0370
For trading calls, contact us at
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.