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FX Daily Report : July 25, 2013

By GFM ResearchCurrenciesJul 25, 2013 03:34AM ET
www.investing.com/analysis/fx-daily-report-:-july-25,-2013-176973
FX Daily Report : July 25, 2013
By GFM Research   |  Jul 25, 2013 03:34AM ET
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Market Commentary

Amidst flat to weak trading witnessed across the asset classes the Dollar Index (DX) showed mild strength though it is may stabilize only on daily close above 82.70; the medium term is range bound between 81.30 and 84.50 ranges.

The benchmark equity index of the Dow Jones Industrials Average (DJIA) is trading at 15545 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 on daily basis else correction may be witnessed. 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.

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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.

FX Daily Report : July 25, 2013
 

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FX Daily Report : July 25, 2013

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