Economic Release
: A slew of Economic Indicators are out from most countries , Fed Interest Rate Decision and Fed's Monetary Policy Statement on Wed ,EMU PPI , BOE & ECB Interest Rate Decision on Thu , US Non Farm Payroll and Unemployment Rate on Fri are the most important data's for this Week.
USD was broadly weak against all the crosses except JPY and we expect this to continue for another Week , coming to the first trading Week of the Month, Tue closing price is very important to take note.
EUR/USD closed well above the Open but mildly pulled away from the high, we believe a temporary low has been seen, we expect the Bulls to gain control at least for the next one to two weeks and the Oscillators are supporting the Bulls but not the MA. We believe the Bulls can march towards 12445/12525/12600 /12750 levels before the next push down. The Bulls may halt in any one of these levels before a pullback lower and Bulls must protect 12240/12175 levels at all times.
GBP/USD closed well above the Open and near the high ,we believe a temporary low has been seen ,we expect the Bulls to gain control at least for the next one to two weeks and the Oscillators are supporting the Bulls but the MA is suggesting the break of 15780/15915 levels are needed. We believe the Bulls can march towards 15915/16010-75/16165 levels before the next push down. The Bulls may halt in any one of these levels before a pullback lower and Bulls must protect 15655/15560-25 levels at all times.
USD/JPY closed near the Open but mildly away from the low ,we believe a Range Trading is expected until the breakout ,the Oscillators are Mixed and MA are supporting the Bears. We believe the Bears may attempt lower one more time. The Bears protect 7930/8060 levels at all times.
USD/CHF closed well below the Open but mildly pulled away from the low ,we believe a temporary high has been seen ,we expect the Bears to gain control at least for the next one to two weeks and the Oscillators are supporting the Bears but the MA is suggesting a temporary halt near 9680-50 levels may be seen. We believe the Bears can march towards 9680-50/9580/9475 levels before the next push up. The Bears may halt in any one of these levels before the next push higher and Bears must protect 9830/9925 levels at all times.
AUD/USD closed well above the Open and near the high ,we believe that the AUD is out of all the Barriers ,we expect the Bulls to gain control at least for the next one to two weeks and the Oscillators and the MA are supporting the Bulls . We believe the Bulls can march towards 10580/10640-80/10735-75/10850 levels before the next push down. The Bulls may halt in any one of these levels before a pullback lower and Bulls must protect 10410/10330 levels at all times.
USD/CAD closed well below the Open and near the low ,we believe a temporary high has been seen ,we expect the Bears to gain control at least for the next one to two weeks and the Oscillators and the MA are supporting the Bears . We believe the Bears can march towards 9935/9800/9700 levels before the next push up. The Bears may halt in any one of these levels before the next push higher and Bears must protect 10100-75 levels at all times.
Spot Gold closed well above the Open but mildly away from the high and within range ,we believe that the Bulls may struggle near 16400/16555/16625 levels but they may dominate at least for the next one to two weeks and the Oscillators and the MA are supporting the Bulls . We believe the Bulls can march towards 16625/16745/16875/17145 levels before the next push down. The Bulls may halt in any one of these levels before a pullback lower and Bulls must protect 16025/15900 levels at all times.
NZD/USD closed well above the Open and near the high ,we believe that the NZD is out of all the Barriers ,we expect the Bulls to gain control at least for the next one to two weeks and the Oscillators and the MA are supporting the Bulls . We believe the Bulls can march towards 8245/8350/8430 levels before the next push down. The Bulls may halt in any one of these levels before a pullback lower and Bulls must protect 8020/7955 levels at all times.
USD/SGD closed well below the Open and near the low ,we expect the Bears to gain control at least for the next one to two weeks and the Oscillators and the MA are supporting the Bears. We believe the Bears can march towards 12345/12265/12175-05 levels before the next push up. The Bears may halt in any one of these levels before the next push higher and Bears must protect 12525/12615 levels at all times.
The Accuracy of the Long Term View may vary from the Weekly Projected Levels, so it is better to Pay attention to the Daily Report for more scrutinized view. Good Luck and Happy trading for the Week.