Vikram Murarka
Kshitij Consultancy Services
USD-CHF @ 0.9167/70...Weak inside the range
R: 0.9200-30 / 0.9300 / 0.9385 / 0.9460
S: 0.9130-20 / 0.9080 / 0.9030
Dollar-Swiss has turned lower breaking below its support of 0.9200-190 and is now moving towards the lower end of the 0.9400-100 range. We had mentioned that it can take resistance near 0.9250 before moving lower however the pair did not move up towards 0.9250 and turned down instead from 0.9230 it self. The 0.9400-100 range seems to be continuing now we expect 0.9200 to be a good resistance on any up move if seen.
GBP-USD @ 1.5775/78...Likely to rise towards 1.5800-40 on short covering
R: 1.5800 / 1.5840 / 1.5890 / 1.5950
S: 1.5700 / 1.5680-60 /
Cable has rise further up through the day. In the medium term it has taken support at 1.5700 and can take itself further up towards 1.5800 and 1.5845 (23.6% Fibonacci on the daily charts of the current fall from 2nd November). Once this current short covering rally is done with, we will be taking a call on if the pair can be sold or not. For now it looks to be headed to 1.5800-40. In the bigger picture their can be chances of the pair dipping towards 1.5300 but that will take its own time.
AUD-USD @ 1.0428/31...Likley to take support near 1.0400-385
R: 1.0470-80 / 1.0580-600-620
S: 1.0390-85 / 1.0345 / 1.0280 / 1.0150
Aussie continues to trade in the 1.0620-350 range from the past few days. In the immediate term it has dipped in side the range after taking resistance near 1.0475 levels The chances of the pair retaining the 1.0620-350 range are more and we would be looking to enter longs on this current dip with stops below 1.0370. Bias remains for it to move up towards 1.0620 after this current dip takes support near 1.0400-385 levels.
Limit Buy Order
Buy AUD 10K at 1.0407, SL 1.0369, TP 1.0490
Happy Trading!
R: 0.9200-30 / 0.9300 / 0.9385 / 0.9460
S: 0.9130-20 / 0.9080 / 0.9030
Dollar-Swiss has turned lower breaking below its support of 0.9200-190 and is now moving towards the lower end of the 0.9400-100 range. We had mentioned that it can take resistance near 0.9250 before moving lower however the pair did not move up towards 0.9250 and turned down instead from 0.9230 it self. The 0.9400-100 range seems to be continuing now we expect 0.9200 to be a good resistance on any up move if seen.
GBP-USD @ 1.5775/78...Likely to rise towards 1.5800-40 on short covering
R: 1.5800 / 1.5840 / 1.5890 / 1.5950
S: 1.5700 / 1.5680-60 /
Cable has rise further up through the day. In the medium term it has taken support at 1.5700 and can take itself further up towards 1.5800 and 1.5845 (23.6% Fibonacci on the daily charts of the current fall from 2nd November). Once this current short covering rally is done with, we will be taking a call on if the pair can be sold or not. For now it looks to be headed to 1.5800-40. In the bigger picture their can be chances of the pair dipping towards 1.5300 but that will take its own time.
AUD-USD @ 1.0428/31...Likley to take support near 1.0400-385
R: 1.0470-80 / 1.0580-600-620
S: 1.0390-85 / 1.0345 / 1.0280 / 1.0150
Aussie continues to trade in the 1.0620-350 range from the past few days. In the immediate term it has dipped in side the range after taking resistance near 1.0475 levels The chances of the pair retaining the 1.0620-350 range are more and we would be looking to enter longs on this current dip with stops below 1.0370. Bias remains for it to move up towards 1.0620 after this current dip takes support near 1.0400-385 levels.
Limit Buy Order
Buy AUD 10K at 1.0407, SL 1.0369, TP 1.0490
Happy Trading!
The above views are based on the latest available information. Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. While the views are proffered with the best of intentions, neither the author, nor the firm are liable for any losses that may occur as a result of any action based on the above. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.
Recommended Content
Editors’ Picks
AUD/USD failed just ahead of the 200-day SMA
Finally, AUD/USD managed to break above the 0.6500 barrier on Wednesday, extending the weekly recovery, although its advance faltered just ahead of the 0.6530 region, where the key 200-day SMA sits.
EUR/USD met some decent resistance above 1.0700
EUR/USD remained unable to gather extra upside traction and surpass the 1.0700 hurdle in a convincing fashion on Wednesday, instead giving away part of the weekly gains against the backdrop of a decent bounce in the Dollar.
Gold keeps consolidating ahead of US first-tier figures
Gold finds it difficult to stage a rebound midweek following Monday's sharp decline but manages to hold above $2,300. The benchmark 10-year US Treasury bond yield stays in the green above 4.6% after US data, not allowing the pair to turn north.
Bitcoin price could be primed for correction as bearish activity grows near $66K area
Bitcoin (BTC) price managed to maintain a northbound trajectory after the April 20 halving, despite bold assertions by analysts that the event would be a “sell the news” situation. However, after four days of strength, the tables could be turning as a dark cloud now hovers above BTC price.
Bank of Japan's predicament: The BOJ is trapped
In this special edition of TradeGATEHub Live Trading, we're joined by guest speaker Tavi @TaviCosta, who shares his insights on the Bank of Japan's current predicament, stating, 'The BOJ is Trapped.'