Financial Weekly Horoscope for Week 1th August 2011

Weekly Financial Forecast For Week Starting 1th August 2011

In terms of astrological placement, following major positions are expected to play out

Monday 1st August: Moon will be in Leo
Tuesday 2nd August: Moon will be in Leo
Wednesday 3rd August: Moon will be in Virgo
Thursday 4th August: Moon will be in Virgo
Friday 5th August: Moon will be in Libra

Please note that from Wednesday 3rd August, Mercury will be retrograde and this implies highly volatile periods in financial markets with a lot of disturbing news (Any surprise as to why August 2nd is an important day for the US Debt issue? This is the power of planets)

The Dollar is falling while Euro stabled with a solution for Greek crisis announcement. All major equities will continue to be rangebound.

Forecast for Dow: The Dow for sometime is expected to be range bound in the 11600 to 12700 zone; it will make multiple tops and bottoms but the preferred strategy continues to be Sell On Rise, until the 11600 zone is not retested;

Forecast for FTSE: Sell On Rise is a preferred strategy until the bottom of 5500-5550 is not retested. Range will be 5500-5900 for next week

Forecast for Nifty: For Nifty, the range will continue to be 5408 and 5690 [with an outside chance of 5740 once and probably below 5408 once due to weak global cues]

Forecast for Euro-USD: Expect range bound movements between 1.38 and 1.44 during the week; Sell on Rise recommended

Forecast for GBP-USD: Expect range bound movements between 1.58 and 1.64 during the week; Sell on Rise recommended

Forecast for USD-JPY: JPY may depreciate further vis a vis USD; Long positions closer to 77-78 can be profitable; Buy on Dips recommended but only after getting clarity on US Debt situation

Forecast for USD-CHF: USD is expected to pull back slightly against the CHF and buy on dips is a good strategy; Buy on Dips recommended

Forecast for Gold: Gold is expected to remain range bound between 1580 and 1630; Both 'Buy on Dips' and 'Sell on Rise' strategy is recommended

Forecast for Silver: Silver is expected to fall back against a rising dollar and 'Sell on Rise' is the recommended strategy