EURO, JAP YEN and EURO-YEN
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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
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USD-CHF @ 1.1612/16...Resistance at 1.1674-90
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R: 1.1650 / 1.1674-90
S: 1.1580 / 1.1560-55
USD-CHF has continued with its early morning bounce and looks to be headed towards 1.1650. However, the important Resistance would be at 1.1674-90, a move above which is not likely over today or tomorrow. The latter comes on the trendline on the 4-Hourly joining the highs of 1.1881 (12-Oct) and 1.1778 (24-Oct). As such, while that maintains on the upside, the bearish bias stays.

On the downside the Supports are at 1.1580 and then at 1.1560. The pair is expected to face selling on rallies.


 
GBP USD @ 2.0826/30......Holding Long
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R: 2.0850 / 2.0890 / 2.0925
S: 2.0750 / 2.0700
GBP-USD had a brief slip to a low of 2.0754 during the day and is stable currently, after the sharp rally yesterday. It still looks bullish, and is trading near its important long-term trendline on the Monthly charts joining the highs of 1.7170 (Oct-98) and 2.0657 (Jul-07). This comes in at 2.0774-00. The Supports for the day is at 2.0750 and then at 2.0700. A break below the latter would be disconcerting for the bulls.

On the upside the Resistance is at 2.0850 and 2.0890. The statistically projected Max High for the day is at 2.0925. The bias is bullish and we are holding a Long position.

Holding:
GBP 10K Long at 2.0812, SL 2.0730, TP 2.0890

US PCE comes out later today. See chart at
http://www.kshitij.com/fundamentals/funcharts/uspce.shtml

US Personal Income comes out later today. See chart at
http://www.kshitij.com/fundamentals/funcharts/usperinc.shtml


 
AUD-USD @ 0.9286/89......Stays Bullish
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S: 0.9270 / 0.9240-30
AUD-USD has been sideways during the day and it continues to trade near its Resistance of 0.9320-25, which comes on the trendline on the daily joining the highs of 0.8954 (01-Oct) and 0.9036 (08-Oct). If this is crossed then there could be a follow-up rally towards 0.9400 in a day or two, which comes on the trendline on the 4-Hourly joining the highs of 0.8997 (19-Oct) and 0.9275 (29-Oct). The statistically projected Max High for the day is at 0.9421.

On the downside the Supports are 0.9270 (held once already) and then at 0.9240-30, which comes on the trendline on the 4-Hourly joining the lows of 0.8751 (22-Oct) and 0.9211 (31-Oct). The directional view for the pair remains bullish.

Happy Trading!