Daily FX perspective November 27, 2012 – GFM Research

The Dollar Index is currently trading at 80.00 ranges, after finding resistance at 81.00 ranges from where is sold off during September. Daily close below 79.80 would result in further depreciation of the US Dollar across the board.

The benchmark equity index (.DJIA) is trading at 12980 after finding support at the medium term support of 12450-12500 ranges. Only daily close below 12400 would put major trend at jeopardy else as the index consistently trades beyond 13300, major rally reinitiates.

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.


FX Pair     Trend            Resistance 2    Resistance 1    Support 1    Support 2


EURUSD    Up                         1.3125              1.3020          1.2920          1.2870
USDJPY    Sideways-Down         82.80                82.20            81.65           80.80
GBPUSD    Up                            –                   1.6130           1.6000         1.5970
USDCHF    Down                     0.9340             0.9310           0.9230         0.9210
EURJPY    Sideways-Up            108.00              107.60           106.10         105.50
AUDUSD   Sideways-Up            1.0630              1.0540           1.0440         1.0400


GFM Research Private Limited
+91-40-40268383
[email protected]
www.gfmresearch.com

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.