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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 16, 2012

GBP/USD outlook


GBP/USD outlook: Intraday 5987-6020 is key level. Targets below are 5938, 5895 and 5798. Above targets are 6036-57, 6090, 6108-25 and 6164. Today’s sensible range is 5938-6090. If gold stays below 1549 and EUR/USD stays below its key level of 2707, sensible range should be considered as 5895-6020. 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 5938, 6014 and 6057.  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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