VIEW ON MAJOR CURRENCY
EUR/USD: EURO yesterday after the opening was seen at 1.3360 failed to trade above 1.3380 and after crossing the lower support of 1.3300 it gave further selling where on lower side it tested the level of 1.3162 just testing the previous bottom of 1.3150 and closing was seen at 1.3167 at days low. Today’s opening was seen at 1.3170 level and taking the lower support of 1.3150 is trading at 1.3192 and expect to trade negative in the range of 1.3250 and 1.3050 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above and cross 1.3250 and is expected to test 1.3050 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.
GBP/USD: British Pound yesterday after the opening at 1.5640 failed to trade above 1.5650 and later part of trading session it tested the lower level of 1.5535 and closing was seen at 1.5577 level. Today the opening was seen flat around the level of 1.5575 and taking support of 1.5550 is trading at 1.5620 level and expected trading range will be 1.5680 – 1.5500. Further trading below 1.5550 will continue the down trend where 1.5500 to 1.5420 will be immediate target. On higher side immediate resistance is seen at 1.5665 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5665 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.
AUD/USD: Australian Dollar yesterday after the opening at 1.0200 level failed to sustain above 1.0200 level and closing was seen at 1.0070 where days low was posted at 1.0050 previous days low was seen. Today after flat opening around 1.0070 it fails to cross the lower support of 1.0020 and is trading at 1.0090 where immediate resistance is seen at 1.0150 and if trading is seen below 1.0060 will move to test 0.9940 and 0.9900 immediately. On higher side sustain trading above immediate resistance level of 1.0250 will bring to 1.0500 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.
NZD/USD: Newzeland Dollar yesterday after the opening at 0.7745 failed to trade above 0.7750 and after crossing the lower support of 0.7700 it tested the lower level of 0.7600 support and closing was seen at 0.7626 level. Today the opening was seen flat at 0.7627 taking support of 0.7600 it is trading at 0.7645 level where on higher side resistance is seen at 0.7700 and till te time its holding the same selling at rise is expected and will test 0.7550 to 0.7400 in near term. We expected some range bound to down side move in market where 0.7700 is resistance and support is seen at 0.7500 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.
USD/JPY: Japanese Yen yesterday closing was seen at 7709 after testing lower level of 77.54 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.9 and is trading just above 77.65 near 77.86 levels where support is seen at 77.5 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.5 on lower side. Stochastic has given positive intersection where side way move in price can be expected.
VIEW ON MAJOR COMMODITIES
Gold: Gold yesterday after the opening at 1713$ failed to trade above 1720$ and after crossing the support level of 1703 – 1700 $ it tested the level of 1656$ and closing was also seen near the lower level of 1665$. Today opening was seen flat around 1665$ and is trading at 1652$ where its trading below the support level of 1655$ and till the time 1680$ is holding we expect it to test 1620$ and 1605$ to be tested immediately. On higher side at 1675$ where if it holding the resistance level will bring the price to move test the lower support of 1605$ on lower side and further trading below 1600$ will continue the down trend on market where 1550$ will be tested. Stochastic has entered in the oversold zone and is still moving down side where if the support level is crossed will further move lower and will indicate down trend to continue.
Silver: Silver yesterday after opening at 32.2$ continued to down trend where on higher side it resistance was seen at 32.5$ and after crossing the level of 32.4 it moved and tested the lower level of 30.85$ and closing was just above the support level of 31$ around 31.27$. Today after the flat opening at 31.25$ it is trading at 31.03$ where on lower side support is taken at 31 $ and next support is coming at 30$. If sustain trading is seen below 31$ will test the lower level of 30.4$ to 30$ immediately, where as only crossover above 33$ on closing basis will bring to 35$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 39$ on higher side. On lower side immediate support is seen at 31$ where sustain trading below the same will bring to 30 to 28$ in near to medium term. Stochastic has just neared the mid zone around 40% and is trading flat indicating if the resistance is holding and if the price trade below 31$ will bring to next support of 30$ in near term.
Brent Crude oil: Brent Crude yesterday after the gap down opening at 108.4$ and failed to cross the higher resistance of 108.8$ and trading was seen negative where on lower side it tested the lower support of 107$ and closing was also seen at days low of 107.4$. Today after gap down opening at 107.3 failed to cross the higher resistance of 107.5 and is trading negative at days low at 107.2$ where below 107$ is support if broken further down side move can be expected. Crossover above 109$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 115$. If sustain trading below 107$ will open the door for 105.5 to 103$ on lower side till the time 112$ is holding for the day. Stochastic is trading flat to negative in the mid zone where is turned negative and is expected to move towards the 25% where some more down side can be seen in the price in coming days.
Copper: Copper yesterday after the gap down opening at 7630 @ traded below the support level of 7300 and tested the low of 7523 and closing was just seen near 7574 level where immediate support is seen at 7500. If sustain trading is seen below 7500 on closing basis will open the door for 7400 and 7300 level soon. Today we look side way to negative trend to continue where will test 7300 level soon and only if the resistance of 7700 break will continue the uptrend where it will test 8200 – 8550 level immediately. Today expected to give opening near to 7500 and expected trading range will be 7600 to 7300 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic has turned negative and is just drifted below overbought zone where it is just below 70% zone where further price action will bring it towards oversold zone.
Report By
xDirect India
EUR/USD: EURO yesterday after the opening was seen at 1.3360 failed to trade above 1.3380 and after crossing the lower support of 1.3300 it gave further selling where on lower side it tested the level of 1.3162 just testing the previous bottom of 1.3150 and closing was seen at 1.3167 at days low. Today’s opening was seen at 1.3170 level and taking the lower support of 1.3150 is trading at 1.3192 and expect to trade negative in the range of 1.3250 and 1.3050 for the day. We are looking at some selling pressure in Euro from higher level where it’s not expected to trade above and cross 1.3250 and is expected to test 1.3050 in medium terms. Stochastic which has given a down trend is nearing the mid zone below 30% moving to enter oversold zone indicating further selling to continue in near term.
GBP/USD: British Pound yesterday after the opening at 1.5640 failed to trade above 1.5650 and later part of trading session it tested the lower level of 1.5535 and closing was seen at 1.5577 level. Today the opening was seen flat around the level of 1.5575 and taking support of 1.5550 is trading at 1.5620 level and expected trading range will be 1.5680 – 1.5500. Further trading below 1.5550 will continue the down trend where 1.5500 to 1.5420 will be immediate target. On higher side immediate resistance is seen at 1.5665 and crossover above the same will move to test 1.5800 to 1.5900 again. Till the time 1.5665 is holding on closing basis short correction can be expected. Stochastic which were trading in mid zone with positive intersection is nearing the higher zone where some upside may be expected.
AUD/USD: Australian Dollar yesterday after the opening at 1.0200 level failed to sustain above 1.0200 level and closing was seen at 1.0070 where days low was posted at 1.0050 previous days low was seen. Today after flat opening around 1.0070 it fails to cross the lower support of 1.0020 and is trading at 1.0090 where immediate resistance is seen at 1.0150 and if trading is seen below 1.0060 will move to test 0.9940 and 0.9900 immediately. On higher side sustain trading above immediate resistance level of 1.0250 will bring to 1.0500 level. Stochastic has given negative intersection just in the mid zone where down side move can be expected.
NZD/USD: Newzeland Dollar yesterday after the opening at 0.7745 failed to trade above 0.7750 and after crossing the lower support of 0.7700 it tested the lower level of 0.7600 support and closing was seen at 0.7626 level. Today the opening was seen flat at 0.7627 taking support of 0.7600 it is trading at 0.7645 level where on higher side resistance is seen at 0.7700 and till te time its holding the same selling at rise is expected and will test 0.7550 to 0.7400 in near term. We expected some range bound to down side move in market where 0.7700 is resistance and support is seen at 0.7500 and selling at rise is advice in near term. Stochastic has drifted below overbought zone where if price trade below support level correction may be seen of recent sharp rally.
USD/JPY: Japanese Yen yesterday closing was seen at 7709 after testing lower level of 77.54 where it’s trading positive and in range bound move where 78.5 was almost retested. Today opening was seen at 77.9 and is trading just above 77.65 near 77.86 levels where support is seen at 77.5 on lower side. Trading range can be seen for the day where 78.3 will be higher side resistance and support is seen at 77.5 on lower side. Stochastic has given positive intersection where side way move in price can be expected.
VIEW ON MAJOR COMMODITIES
Gold: Gold yesterday after the opening at 1713$ failed to trade above 1720$ and after crossing the support level of 1703 – 1700 $ it tested the level of 1656$ and closing was also seen near the lower level of 1665$. Today opening was seen flat around 1665$ and is trading at 1652$ where its trading below the support level of 1655$ and till the time 1680$ is holding we expect it to test 1620$ and 1605$ to be tested immediately. On higher side at 1675$ where if it holding the resistance level will bring the price to move test the lower support of 1605$ on lower side and further trading below 1600$ will continue the down trend on market where 1550$ will be tested. Stochastic has entered in the oversold zone and is still moving down side where if the support level is crossed will further move lower and will indicate down trend to continue.
Silver: Silver yesterday after opening at 32.2$ continued to down trend where on higher side it resistance was seen at 32.5$ and after crossing the level of 32.4 it moved and tested the lower level of 30.85$ and closing was just above the support level of 31$ around 31.27$. Today after the flat opening at 31.25$ it is trading at 31.03$ where on lower side support is taken at 31 $ and next support is coming at 30$. If sustain trading is seen below 31$ will test the lower level of 30.4$ to 30$ immediately, where as only crossover above 33$ on closing basis will bring to 35$ next resistance level. On higher side only on closing basis above 35$ will hamper the bearish outlook in silver where it will test 39$ on higher side. On lower side immediate support is seen at 31$ where sustain trading below the same will bring to 30 to 28$ in near to medium term. Stochastic has just neared the mid zone around 40% and is trading flat indicating if the resistance is holding and if the price trade below 31$ will bring to next support of 30$ in near term.
Brent Crude oil: Brent Crude yesterday after the gap down opening at 108.4$ and failed to cross the higher resistance of 108.8$ and trading was seen negative where on lower side it tested the lower support of 107$ and closing was also seen at days low of 107.4$. Today after gap down opening at 107.3 failed to cross the higher resistance of 107.5 and is trading negative at days low at 107.2$ where below 107$ is support if broken further down side move can be expected. Crossover above 109$ is must for further uptrend to continue where we wait for closing basis breakout for higher level of 115$. If sustain trading below 107$ will open the door for 105.5 to 103$ on lower side till the time 112$ is holding for the day. Stochastic is trading flat to negative in the mid zone where is turned negative and is expected to move towards the 25% where some more down side can be seen in the price in coming days.
Copper: Copper yesterday after the gap down opening at 7630 @ traded below the support level of 7300 and tested the low of 7523 and closing was just seen near 7574 level where immediate support is seen at 7500. If sustain trading is seen below 7500 on closing basis will open the door for 7400 and 7300 level soon. Today we look side way to negative trend to continue where will test 7300 level soon and only if the resistance of 7700 break will continue the uptrend where it will test 8200 – 8550 level immediately. Today expected to give opening near to 7500 and expected trading range will be 7600 to 7300 where selling is advise on every rise till the time resistance is holding at 8000. Stochastic has turned negative and is just drifted below overbought zone where it is just below 70% zone where further price action will bring it towards oversold zone.
Report By
xDirect India
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