EURO, JAP YEN and EURO-YEN
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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$-Swiss @ 1.2476/81....Sell a rally
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R: 1.2500 / 1.2525 / 1.2545
S: 1.2450 / 1.2420
$-Swiss, has traded in a narrow range near 1.2470-90 during the day with an upward bias. Now volatility is expected pick up later today as the US Tic’s Data and the US CPI is coming in. We are expecting Resistances near 1.2500 and then at 1.2525. If there is a move above 1.2525, there could be a move towards 1.2545, coming on the trendline on the 4-Hourly, joining the highs of 1.2773 (13-Oct) and 1.2707 (24-Oct).

On the downside the Support at 1.2450 is important and a break of that would result in a fall towards 1.2420. We would like to sell a rally.

Order:
Sell $25K at 1.2510, SL 1.2555 (down from 1.2570), TP 1.2400

 
Cable @ 1.8882/87....Support at 1.8855, buy dip
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R: 1.8918 / 1.8945-53 / 1.8964-71
S: 1.8855-45 / 1.8800
The Cable did not rally to 1.8925 during the day. It tested the 200-MA on the 4-hourly instead and has bounced from there. If this Support continues to hold, there are now chances of the market rallying towards 1.8945-50 over the rest of today-tomorrow.

IN CASE the 1.8855-45 Support breaks, look for a fall towards 1.8802, the projected Max Low for the day.

Order:
Buy GBP 15K at 1.8875, SL 1.8830, TP 1.8935
Sell GBP 15K at 1.8935, SL 1.8989, TP 1.8875

 
Aussie @ 0.7678/82....Stopped out of Short
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R: 0.7689-93 / 0.7725
S: 0.7665 / 0.7650 / 0.7635
The Aussie had been trading in Bear territory for the last couple of days. But it has moved up to 0.7675 today, back into Bull territory. We have just been Stopped out at 0.7675 on the Short position we had earlier entered at 0.7650.

Now, a test of 0.7689-93 (projected Max High for the Day) is possible. At the least, today's movement gives rise to confusion between 0.7700 on the upside and 0.7630 on the downside. At best, it could signal the resumption of the uptrend since the 12-Oct Low of 0.7415.


Happy Trading!