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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.

Friday, May 11, 2012

GBP/USD outlook


GBP/USD outlook: Intraday 6108-40 is key level. Targets below are 6087, 6057, 6014-43 and 6003. Above targets are 6157, 6164, 6179 and 6213-42. Today’s sensible range is 6057-6179. If gold stays below 1595 and EUR/USD stays below its key level of 2944-64, sensible range should be considered as 6014-6164. 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 6014, 6057, 6108 and 6164.  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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