Historic correlation between DX Vs DJIA suggests the short-term and medium-term trend being sideways where as the long-term trend is still dollar bearish till the Dollar Index is not closing above 84.50 on monthly basis.
NYMEX Crude after again corrected from $97.50 ranges. The short-term trend is range bound between $94.00 and $98.00; daily close above $98.40 would open door towards $102.00.
FX Pair Trend Resistance 2 Resistance 1 Support 1 Support 2
EURUSD Sideways-Up 1.2820 1.2720 1.2590 1.2530
USDJPY Sideways-Up 79.50 79.20 78.80 78.30
GBPUSD Sideways 1.6030 1.5980 1.5920 1.5880
USDCHF Sideways-Down 0.9635 0.9600 0.9500 0.9450
EURJPY Sideways-Up 101.60 100.00 99.20 98.80
AUDUSD Up – 1.0360 1.0260 1.0230
GFM Research Private Limited
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