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 @ 1.1444/47....Towards 1.1400
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R: 1.1500 / 1.1536
S: 1.1400 / 1.1360
USD-CHF has had a sharp fall during the day and it is at its lowest level since Jan-2005. Currently it seems to be headed towards 1.1400.

Immediately on the upside the Resistance is at 1.1500 and then at 1.1536, the statistically projected Max High for the day. There was no bounce during the day today to be sold into, hence there may be no bounce (>50 pips) in the next few hours at all.
 

 GBP-USD @ 2.0873/77.....Holding Longs
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R: 2.0900 / 2.0947
S: 2.0850 / 2.0800
GBP-USD rallied to a high of 2.0887 during the day and it continues with its uptrend. It continues to look to be headed towards 2.1050-55, which comes on the trendline on the on the Weekly Candles joining the highs of 1.9028 (May-06) and 2.0657 (July-07). This trendline disregards the spike to 1.9849 in Dec-06.

For today the immediate Resistance is at 2.0900. Above that the Resistance is at 2.0947, the statistically projected Max High for the day. On the downside the Support is at 2.0850 and then at 2.0800. We are holding two long positions.

Holding:
GBP 10K Long at 2.0844, SL 2.0780 (up from 2.0740), TP 2.0930. As soon as the market trades 2.0900, bring SL up to 2.0800.

Holding:
GBP 10K Long at 2.0821, TSL 2.0821, TP 2.0980

See UK Libor and BOE Bank Rate chart at
http://www.kshitij.com/fundamentals/funcharts/ukboe.shtml


 
 AUD-USD @ 0.9227/32...Towards 0.9350
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R: 0.9300 / 0.9321
S: 0.9200-0.9190 / 0.9150-44
AUD-USD has been firm in the day so far however it continues to be ranged within 0.9100 on the downside and 0.9350 on the upside. In the immediate short term, the Resistance is at 0.9300. Above that the Resistance is at 0.9321, the statistically projected Max High for the day.

For today the Support is at 0.9200-0.9190, on the trendline on the 4-Hourly joining the lows of 0.8751 (22-Oct) and 0.9157 (05-Nov). Below that the Support would be at 0.9150-44, the statistically projected Max Low for the day. The bias is bullish currently.

RBA is meeting tomorrow morning. See AUD Libor and RBA interest rate chart at
http://www.kshitij.com/fundamentals/funcharts/aurba.shtml


Happy Trading!