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 @ 1.2439/44…..Stay out
-----------------------------------------------------
R: 1.2462 / 1.2489
S: 1.2412 / 1.2379
$-Swiss has been stable during the day within 1.2457 on the upside and 1.2408 on the downside. Now this small range needs to break for further directional move to take place. Intraday the Resistances are coming in at 1.2462 and then at 1.2489, the statistically projected Max High for the day. On the downside the Supports are at 1.2412 and then at 1.2379, the statistically projected Max Low for the day. It would be best to stay out for the day today.
 

Cable @ 1.8966/71….Buy a dip
------------------------------------------------------
R: 1.9000 / 1.9050
S: 1.8950-42 / 1.8900
The Cable has had a sharp fall during the day to a low of 1.8963. Now it is currently near the lower end of the range (of 1.9150 – 1.8950) projected for the week. Additionally, on the downside there is Support coming in at 1.8942, the statistically projected Max Low for the day. We may see an upmove from now on. However if 1.8950 breaks on a closing basis (currently unexpected), there may be a fall towards 1.8850 later on in the week. On the upside the immediate Resistance is at 1.9000 and above that the Resistance would come in at 1.9050. The pair is expected to find buyers now and we would like to buy a slight dip.


Order:
Buy GBP 15K at 1.8950, SL 1.8925, TP 1.9030. As soon as the market trades at 1.8980 after entry, bring SL up to 1.8950.

 
Aussie @ 0.7643/47…….Bearish biased
-------------------------------------
R: 0.7660-66 / 0.7685-90
S: 0.7630 / 0.7616
The Aussie has been stable during the day, after the sharp fall yesterday. Today’s recovery currently looks to be corrective in nature, which seems to be finding Resistance at 0.7660-66 (mentioned in the morning). It looks unlikely to be crossed now, specially as the statistically projected Max High for the day (0.7663) has been already tested. However if it is crossed, then there could be a rally towards 0.7685-90. On the downside the Supports are coming in at 0.7630 and then at 0.7615. The bias for the pair is bearish currently and shorts can be attempted near the current levels with stops above 0.7670.

Happy Trading!