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 @ 1.2075/80....Sell rally
--------------------------------
R: 1.2080 / 1.2112-16 / 1.2130
S: 1.2031-18 / 1.1990 / 1.1950
$-Swiss dipped to a low of 1.2031 during the day but has seen some buying near that level. There has been a bounce back subsequently as the pair is consolidating near 1.2065-45. Now a fresh break below the important Support base of 1.2031-18 could result in a fall towards 1.1990 in the pair, which is the statistically projected Max Low for the day. A break below 1.1990 (unexpected today) may result in a fall towards 1.1919 some time during the week. On the upside the Resistances are coming in at 1.2080 and then at 1.2112, where the pair had topped yesterday. Note that the statistically projected Max High on the daily is at 1.2116. In case those are crossed (unexpected) then there may be a rally towards 1.2130. The bias for the pair is bearish and we would like to sell a rally.

Order:
Sell $25K at 1.2093, SL 1.2153, TP 1.2020

 
 Cable @ 1.9435/40....Bullish above 1.9400
------------------------------------------
R: 1.9464-73 / 1.9500 / 1.9550
S: 1.9400 / 1.9348
The Cable rallied sharply during the day to a high of 1.9464, just below the high of 1.9470 that was tested yesterday. It has had a little fall since then as that level is now bringing in Sellers. A move past 1.9470 would target 1.9550 (Dec-04 High) during the week. Note that the statistically projected Max high for the day is at 1.9473. The interim Resistance above 1.9470 would be expected at 1.9500. On the downside the Supports are coming in at 1.9400 and then at 1.9348, the statistically projected Max Low for the day. The bias for the day continues to be bullish while the market trades above 1.9400

 
 Aussie @ 0.7789/93....Holding Long
----------------------------------
R: 0.7818-20 / 0.7843
S: 0.7780 / 0.7767-60 / 0.7746
The Aussie has traded sideways (within 0.7776-0.7800) during the day just above its important trendline Support of 0.7780. The trendline comes on the 4-Hourly, joining the lows of 0.7681 (21-Nov) and 0.7763 (27-Nov). A break below this may lead to a fall towards 0.7767-60, near the former high of 01-Nov-06. Note that the statistically projected Max Low for the day is at 0.7746. On the upside the Resistance is at 0.7820, where the pair had topped out yesterday. The statistically projected Max High for the day is at 0.7818. A move above 0.7820 may trigger a rally towards 0.7843 (High in Apr-2005). We are holding a Long position.

Holding:
AUD 20K Long at 0.7793, SL 0.7770, TP 0.7810


Happy Trading!