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FX Daily Report : September 04, 2013

ByGFM Research
Published 09/04/2013, 07:36 AM
Updated 05/14/2017, 06:45 AM
Market Commentary

The Dollar is trading mixed against the FX majors wherein it is trading weak against the Cable and the Aussie but trading flat against the Euro and the Swiss Franc; the Japanese Yen is trading weak against the Greenback. Stable trading the equities, may result in the Dollar Index finding resistance at 82.50 ranges though the medium term trend which is still range bound between 80.80 and 84.50 ranges with wider swings seen between 80.50 and 85.00 ranges.

The benchmark equity index of the Dow Jones Industrials Average (DJIA) is trading flat at 14820 ranges, below the critical support of 15300 and above the major support of 14500 ranges; major trend which started in 2009 would be at stake only of it closes consistently below 14000 ranges else the major trend is still intact. 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.
FX Pair
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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