11 June Tuesday View

I had been trying to make this post since morning, but for some technical reasons I had been unable too. But now here it is..

After the fall last Friday, price literally didn’t move a bit yesterday, Opened at 33371 and Closed at 33383, just NPR 12 per 10 gm change. For now it seems to have trouble passing by 33460 (USD 1387.71) level, yesterday high but somehow sticking with 33387 (USD 1384.68) a very important level. If this level can't be  kept up with then we may see fall towards 33100 (USD 1372.78), then 32650 (USD 1354.11) and then 32275 (USD 1338.56, May 20 Low). In accordance to the Daily Chart (10Jun_Daily @ Google Drive) and fib levels from 31869 (USD 1321.72) to 38302 (USD 1588.52), 33387 (USD 1384.68) is the 23.6 % retracement after which the full extension 0 % is at 31869 (USD 1321.72).

On upside, immediate resistance may be seen at around 33500 (USD 1389.37) and then 33700 (USD 1397.66).

Not much Economic Releases on U.S. side today, but we have Monetary Policy and BOJ Press Conference on Japanese side which will have some impact on USD if comes other than anticipated ; and Manufacturing Production m/m - GBP. We will wait and see how the market unfolds.

Trade Happy, Trade Safe :)