Historic correlation between DX Vs DJIA suggests the long-term trend is still dollar bearish till the Dollar Index is not closing above 84.50 on monthly basis. Even the medium term trend has turned bearish after the Dollar Index breached 81.00 ranges and the index seems to be heading towards 78.90-78.20 ranges.
NYMEX Crude trading flat at $97.05. 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 Up 1.3020 1.2980 1.2840 1.2780
USDJPY Sideways-Down 78.30 78.00 77.30 76.80
GBPUSD Up 1.6150 1.6130 1.6060 1.6020
USDCHF Down 0.9480 0.9440 0.9320 0.9250
EURJPY Sideways-Up 101.60 101.00 100.00 99.60
AUDUSD Up 1.0560 1.0510 1.0400 1.0360
GFM Research Private Limited
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