EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at http://www.kshitij.com/fxthoughts/fxthoughts.shtml#register

Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
---------------------


 
 $-Swiss @ 1.2485/90....Buy dips
---------------------------------
R: 1.2505 / 1.2521 / 1.2581
S: 1.2450-41 / 1.2400
$-Swiss has come off a bit after hitting a high of 1.2521 earlier today. We still think that while the pair is trading above 1.2450, there are chances that the pair may rally to 1.2550 once again during the week.

Intraday the Supports are coming in at 1.2450, while the statistically projected Max Low for the day is at 1.2441. If that breaks (unexpected), there may be a bigger fall towards 1.2400. On the upside the Resistances are coming in at 1.2505 and then at 1.2521. The Statistically projected Max High for the day is at 1.2581. We would like to buy a dip on the pair.

Order:
Buy $25K at 1.2460, SL 1.2410, TP 1.2540
Buy $25K at 1.2430, SL 1.2380, TP 1.2540

 
 Cable @ 1.9036/41....Watch Support at 1.9030
--------------------------------------------
R: 1.9100 / 1.9134
S: 1.9028 / 1.9000 / 1.8951
The Bank of England has raised interest rates by 25bp a few minutes ago, but the Cable has only dipped, rather than rallying.

However, it does have Supports at 1.9028 and then at 1.9000. IF these are broken, then one could look for a fall towards the statistically projected Max Low for the day at 1.8951. While above 1.9030 currently, we cannot rule out chances of a rise towards Resistance at 1.9100, since the market appears to be ranged between 1.9030-9100.

In case of a rise past 1.9100, look for a test of 1.9134, the statistically projected Max High for the day. The Cable does not look like a compelling trade just now and it might be better to stay out.

 
 Aussie @ 0.7660/64....Buy dip/ Sell rally
-----------------------------------------
R: 0.7682 / 0.7700
S: 0.7635 / 0.7605
Our Sell Order at 0.7685 was missed by a few pips during an intra-day rally, and the Aussie has dipped since then, crossing below the statistically projected Max Low for the day at 0.7660. It now has a good Support at 0.7638-27. While that holds, a bit of short-covering towards 0.7675-85.

Intraday the Resistances on the upside are coming in at 0.7682 and then at 0.7700. On the downside the Supports are coming in at 0.7635 and then at 0.7605. The bias is bearish, but we could see some sideways movement for the next few hours. We would like to sell a rally or buy a dip.

Order:
Sell AUD 20K at 0.7680, SL 0.7700, TP open
Buy AUD 20K at 0.7640, SL 0.7620, TP 0.7675


Happy Trading!