Friday 2 August 2013

WEEKLY DAILY COMMENTARY FOR 5AUG- 9-AUG

                                                     
               
                                                               (1)EUR/USD
The eur/usd gained back from previous day losses.The support zone around 1.3200 is important in the coming week because the price failed to close below it after flirting with the zone in the earlier section.Given the fact that today rally failed to close above yesterday bar, we still retained our bearish bias provided the price action outlook on monday supports our bias.

                                                            (2)   GBP/USD

The Gbp/usd agressively gained back all the yesterday rally closing above the two days bar. We remained conscious of this market as there is no obvious screaming setup to warrant  an informed bias.The support zone around 1.5000 will inform our bias in case of any rally downtrend.




                                                              (3) NZD/USD
The NZD/USD continues bleeding today.Given the dominant bearish bias of the pair , welook forward to a retracement to join the falling knife.The support  zone around 0.7730 is the next point to look forward to.


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