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 @ 1.2315/20....Bullish now for 1.2400
--------------------------------------------
R: 1.2340 / 1.2380
S: 1.2280 / 1.2250
$-Swiss continued with its sharp rally during the day and it hit a high of 1.2328. It stopped us out of our Short at 1.2310, which had been entered at 1.2240 yesterday. The pair is currently trading just below the statistically projected Max High of the day of 1.2340. If that is crossed, the upmove can extend towards 1.2380-2400 over today or tomorrow. On the downside the Support is at 1.2280. A break below that could lead to a decline towards 1.2250. The pair looks bullish now, while it is trading above 1.2250 intraday.

 
 Cable @ 1.9445/50...Vulnerable to further fall
----------------------------------------------
R: 1.9430 / 1.9470 / 1.9532
S: 1.9400 - 9397 / 1.9350
The Cable continued with its sharp fall today during the day also as the pair hit a low of 1.9399. The pair has broken a very important level of 1.9430 earlier today and a close below this could lead to further weakness in the pair. If so, there could be a decline towards 1.9275 during the week.

Intraday the Supports are coming in at 1.9397, the statistically projected Max Low for the Day and below that at 1.9350. On the upside the Resistance is at 1.9430 and then at 1.9470. The statistically projected Max High for the day is at 1.9532.

 
 Aussie @ 0.7847/51....Trend Reversal in the offing?
---------------------------------------------------
R: 0.7860 / 0.7877
S: 0.7824 / 0.7800
The Aussie continued with its sharp selloff, which started at 0.7982 yesterday. It has hit a low of 0.7828 so far in the day. It is currently trading at the Trendline Support at 0.7850 mentioned in the morning, but still way below the statistically projected Max Low for the day of 0.7877, signifying further downside momentum. A Day Close below 0.7850 could signal a trend reversal, targeting 0.7700


Happy Trading!