• Home ::
• Technical ::
• Analysis Reports ::
• FX Thoughts for the Day

• Send
• Print
• Add To
• Rss

22282f30-6f92-4ebe-b880-356558625db2

0

0

FX Thoughts for the Day

Tue, Oct 14 2008, 11:04 GMT
by Kshitij Consultancy Service Team

Kshitij Consultancy Service

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
---------------------

 
USD-CHF @ 1.1280/84... Could dip in the day
--------------------------------------------
R: 1.1320 / 1.1360 / 1.1390-1400 / 1.1450 / 1500
S: 1.1270-50 / 1.1200 / 1.1150 / 1.1100
The pair continues to trade within the tight trading range of 50-pips. For the day the Support at 1.13 is being tested, and there is a high probability that the pair could slip lower during the day towards 1.1250, and 1.1196, the Max Low for the day.

Overall the pair is ranged between 1.11 and 1.15 and could vacillate between these levels for the week.

 
 GBP-USD @ 1.7621/25... Could rise towards 1.77
-----------------------------------------------
R: 1.7650 / 1.7700 / 1.7770 / 1.7835
S: 1.7500 / 1.7400 / 1.7350 / 1.7300
The dip towards 1.74 has seen some buying interest and a subsequent rise in the pair has seen.

The pair conitinues to reamin bullish and could now target 1.77 in the short term and provided the Resistance at 1.77 gives way, then may be towards 1.7850-7900 over the course of the week.

The bailout plan proposed by the UK government has lead to short covering and resulted in some market relief. Cable could continue to surge provided the sentiment is not disturbed once again.

Holding:
Long GBP 10K at 1.7542, SL Open, TP 1.7700 (up from 1.7750)

 
 AUD-USD @ 0.7231/35... Could rise towards 0.7345
-----------------------------------------------
R: 0.7235-50 / 0.7270 / 0.7300-15 / 0.7350
S: 0.7060-50 / 0.7000 / 0.6925 / 0.6850 / 0.6800
Our long on Aussie has seen profit during the day as the pair continues to rise. For now the pair could face some minor Resistance near 0.7250.

A dip towards 0.7160-30 could be bought, as the pair is still bullish as long as the Support at 0.71 holds. Overall, the pair could be headed towards 0.74-75 over the course of the week.

Limit Buy Order:
Buy AUD 10K at 0.7158, SL 0.6939, TP 0.7300
Buy AUD 10K at 0.6819, SL 0.6789, TP 0.7009

Happy Trading!
 
 

Published on  Tue, Oct 14 2008, 11:48 GMT