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Shivani Financial GBP/USD short term bottom seems 5478-5383 and top 6210-42. Shivani Financial EUR/USD short term bottom seems 2580-2618 and top 3510. Shivani Financial USD seems to weaken this quarter with GBP target of 6330 and EUR of 3250 if talks of QE3 takes place and euro area resolution policies implemented without new story. Shivani FinancialGold has taken correction according to our forecast for it to go 1850 by August end.

Wednesday, May 9, 2012

EUR/USD outlook


EUR/USD outlook: Intraday 3014-23 is key level. Targets below are 2961-69, 2930 and 2871. Above targets are 3046, 3088 and 3108. Today’s sensible range is 2871-3046. Below 3023, EUR/USD will have little safe haven status and might panic other currencies against dollar and also the commodities. If the market goes out of these ranges stay away from it as that will be an abnormal behavior from intraday trading perspective.

From trend follow-up perspective important closing rates are areas of 3023 and 3146. Note: To know the strategies and directions to trade, maintain your portfolio at Shivani Financial. The analysis given is not trading signals but the market picture.

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