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| EUR/USD |
EUR/USD:
We had asked all of our traders to carry forward till Monday (today) on
their Short EUR/USD from 1.2375
and Target hit at 1.2290; however which has once again bounced on the
upside. However we are still playing on the range and therefore would look at the same levels of resistance in order to go
for short levels…however we would be looking for 1.2410/1.2415 for a breach to affirm an upside in the same. Nevertheless
we would be initiating short positions at levels around 1.2380 till 1.2390 levels for its downside of 1.2330/1.2335. Only a
breach below of 1.2320 would then push it lower to 1.2290 and then towards 1.2255 levels. Considering this is a
Holiday with minimal data no major movement could be expected in European Session until the US session opens up, with
S&P 500 still holding its resistance on the topside.
However if selling appears to be solid a break of 1.2260/1.2255 would
indefinitely push it to 1.2215/1.2202 levels for
today. Nevertheless if sideways movements continue then we would be
sticking on the levels instated.
Mode: SIDEWAYS Supports:: 1.2325, 1.225
5 Resistance: 1.2405, 1.2480.
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| GBP/USD |
GBP/USD:
GBP/USD too seems to be playing range bound, however at one stage seemed
quite weak after is loss 1.5685/80 levels on Friday and hence we are looking that its trends on the
upside be capped till 1.5745 levels. We would be therefore looking for opportunities to go short at levels around
1.5730/1.5745 levels and would negate our downside only if the levels of 1.5752/1.5460 are breached strongly to test its next
resistance at 1.5775/1.5780 levels. Therefore any upside should be seen to test 1.5730 levels to go short but should hold it
strongly to test 1.5690 followed by 1.5665/60 levels.
Mode: Bearish Supports:: 1.5680, 1.5655, 1.5625 Resistance: 1.5750,
1.5782
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| AUD/USD |
AUD/USD:
On Friday we had asked all our Traders To enter-into Long in AUD/USD at
1.0410/1.0412 levels despite our Positional Call given since August 14th at 1.0560/1.0540 levels and hence achieving our 1st objective around 1.0450/1.0440 levels. We would be covering our long Calls given on Friday over here as
the Hourly Charts are well overbought but would be re-instating longs again at 1.0420/1.0408 levels. The levels of around
1.0380 is quite crucial in order to negate the bounce in AUD/USD as the break below would emancipate huge selling in the market for
levels to tests 1.0330/1.0315 levels. However considering this would be a sideways day we would be exiting our long
calls at 1.0450 levels and hence re-instating longs only if 1.0408 levels are held strongly.
Mode: SIDEWAYS/BEARISH Supports:: 1.0405, 1.0378, 1.0330 Resistance: 1.0450, 1.0500, 1.0520
Report By
xDirect India
