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FX Thoughts for the Day
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FX Thoughts for the Day
Tue, Aug 26 2008, 11:58 GMT
by Kshitij Consultancy Service Team
EURO, JAP YEN and EURO-YEN
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering to our newsletter.
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 @ 1.1065/69... Breakout seen
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R: 1.1100 / 1.1150 / 1.1200 / 1.1240
S: 1.1060-40 / 1.1020-00 / 1.0975-50 / 1.0900-880
Finally a break of the Resistance at 1.1035-50 has been seen today. The lower than expected German Ifo has triggered this rise. To see the charts of German Ifo, which measures the Business Sentiment, Business Climate and Business Situations, click on: http://www.kshitij.com/fundamentals/funcharts/gerifo.shtml
The Max High at 1.1060 already breached the pair could head higher later in the day towards 1.11.
We have been calling for a break out for sometime now. The chart still suggests there is possibility of a further rise towards 1.12, if not 1.13-15 seen on the 3-day chart at:
http://www.kshitij.com/graphgallery/chfcandle.shtml
GBP-USD @ 1.8352/56... Recession unavoidable.
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R: 1.8400 / 1.8460-80 / 1.8520-60
S: 1.8320 / 1.8265-50 / 1.8200
Cable has seen a sharp dip once again as the dollar resumed it’s rally against the majors after a small slip seen yesterday.
For the near-term, the pair could target 1.83, however, in the medium term the pair is expected to be bearish and could target lower towards 1.80, even 1.75, if the UK economic health continues to deteriorate. A recession seems unavoidable for now as it has seen two quarters of zero growth already.
AUD-USD @ 0.8515/19... Could bounce back a little
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R: 0.8550-40 / 0.8600 / 0.8660-82
S: 0.8510 / 0.8481 / 0.8450
A break of Support at 0.86 has resulted in a dip in the pair towards 0.85 during the day. In the process the Max Low for the day, at 0.8539 has been broken past.
Looking ahead there could be some Support near the 0.85 region and a bounce towards 0.8600 could be seen later in the day.
Keep an eye on the chart pattern at:
http://www.kshitij.com/graphgallery/audcandle.shtml
http://www.kshitij.com/graphgallery/audma.shtml
Happy Trading!
Published on Tue, Aug 26 2008, 12:09 GMT
Archive
- FX Thoughts for the Day
Published On Mon, Dec 1 2008, 12:10 GMT - FX Thoughts for the Day
Published On Fri, Nov 28 2008, 11:41 GMT - FX Thoughts for the Day
Published On Wed, Nov 26 2008, 12:37 GMT - FX Thoughts for the Day
Published On Tue, Nov 25 2008, 12:47 GMT - FX Thoughts for the Day
Published On Fri, Nov 21 2008, 11:41 GMT
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