Is stabilizing at 83.00 ranges with 83.80 and 84.50 ranges acting as intermittent resistances though the medium term trend is range bound between 81.30 and 84.50 ranges. Most of the FX majors are trading mixed bag; the Common currency and the Japanese Yen traded weak whereas the Cable appreciated; the Swiss Franc and the Aussie traded flat during yesterday’s trading session.
The benchmark equity index of the Dow Jones Industrials Average (DJIA) is trading at 15400 ranges; the major trend is still intact till DJIA manages to trade above 15300 ranges and may rise to 16100 ranges as it consistently closes above 15600 mark. Historic correlation between DX Vs DJIA suggests Dollar weakness till DX is not closing above 84.50 ranges on weekly basis though the historic correlation between DX Vs DJIA is getting less significant. 
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.
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FX Daily Report : July 18, 2013
Published 07/18/2013, 06:01 AM
Updated 05/14/2017, 06:45 AM
FX Daily Report : July 18, 2013
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