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 consolidating in 78.70-78.20 ranges.
NYMEX Crude trading weak at $96.05. The short-term trend is range bound between $94.00 and $98.40, either side breakout results in trend.
FX Pair Trend Resistance 2 Resistance 1 Support 1 Support 2
EURUSD Sideways 1.3190 1.3150 1.3050 1.2990
USDJPY Sideways-Up 79.50 79.00 78.40 78.10
GBPUSD Sideways 1.6300 1.6265 1.6190 1.6150
USDCHF Sideways 0.9330 0.9310 0.9250 0.9200
EURJPY Sideways 104.50 104.00 102.00 101.40
AUDUSD Down 1.0540 1.0490 1.0400 1.0380
GFM Research Private Limited
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