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 @ 1.2524/29…..Holding Short
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R: 1.2540 / 1.2550-60
S: 1.2490 / 1.2460 / 1.2441
$-Swiss has been firm in the last two days, as it has gradually moved up since hitting a low of 1.2358 on 13-Nov. However now there is strong Resistance ahead at 1.2540, which is coming on the trendline on the 4-Hourly, joining the highs of 1.2773 (13-Oct) and 1.2707 (24-Oct). If that is crossed (chances 30-35%) there may be a rally towards 1.2550, the statistically projected Max High for the day. Note that the 200-MA on the 4-Hourly is at 1.2560. On the downside the Supports are coming in at 1.2490 and then at 1.2460. The statistically projected Max Low for the day is at 1.2441. We are holding a Short position as the trendline at 1.2540 is expected to hold.

Holding:
$25K Short at 1.2510, SL 1.2560 (down from 1.2570), TP 1.2400. As soon as the market trades 1.2480, bring SL down to 1.2540.
 


Cable @ 1.8858/63….Holding Long
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R: 1.8890-8905 / 1.8942
S: 1.8855 / 1.8838-36 / 1.8800 / 1.8777
The Cable dipped to a low of 1.8838 during the day but bounced back quickly. It continues to trade near the crucial level of 1.8855-60, near the 200-MA on the 4-Hourly of 1.8855. A sustained closing on a 4-Hourly basis below 1.8855 is likely to bring weakness in the pair. If so, the pair may fall towards 1.8838-36 and then towards 1.8800. The statistically projected Max Low for the day is at 1.8777. On the upside the Resistances are coming in at 1.8890-8905 and then at 1.8942, the statistically projected Max High for the day. We are holding long on basis that the 200-MA on the 4-Hourly will hold and a bounce may be seen.

Holding:
GBP 15K Long at 1.8875, SL 1.8830, TP 1.8935.


 
Aussie @ 0.7655/59…….Bullish while above 0.7650
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R: 0.7680-82 / 0.7698-0.7700
S: 0.7650 / 0.7628
The Aussie has been stable during the week after hitting a low of 0.7616 on 13-Nov. It has had a gradual rally since then. Now a closing above 0.7680 is required for it to enter a bullish move once again. If there is a move above 0.7680 on a closing basis, then there could be a rally towards 0.7750 in the next week. A failure to move above 0.7680 (closing basis) would imply a fall towards 0.7616 next week.

Intraday the Resistances are coming in at 0.7680-82 and then at 0.7700. The statistically projected Max High for the day is at 0.7698. On the downside the Supports are coming in at 0.7650 and then at 0.7628, the statistically projected Max Low for the day. The pair may be trade with a bullish bias today while above 0.7650.

Happy Trading!