Daily Market View
As of 08-05-2012
| EUR/USD | ||
| A downside bias is seen for loss towards 1.2950. Look to buy around that point and sell on rallies towards 1.3060 | Support | 1.2940 |
| Resistance | 1.3075 | |
| GBP/USD | ||
| A downside bias is seen for the GBP as well. Look to sell on rallies towards 1.6200 and buy on dips towards 1.6095 | Support | 1.6090 |
| Resistance | 1.6210 | |
| USD/JPY | ||
|
A session of sideways trading is seen for the USD/JPY for today, with a trading range of 79.60 - 80.10
|
Support | 79.55 |
| Resistance | 80.25 | |
| Gold | ||
| No real direction for gold as the market is consilidating in this area for a longer period than expected. Trading range 1627 - 1654 | Support | 1625.00 |
| Resistance | 1655.00 |
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Neither Bank al Etihad nor any of its respective directors, officers or employees accepts any responsibility or liability whatsoever for any expense, loss or damage arising out of or any way connected with the use of all or any part of this daily FX commentary or document.
