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FX Thoughts for the Day
Tue, Oct 14 2008, 11:04 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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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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USD-CHF @ 1.1280/84... Could dip in the day
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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
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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
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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
Archive
- FX Thoughts for the Day
Published On Fri, Jul 3 2009, 12:23 GMT - FX Thoughts for the Day
Published On Thu, Jul 2 2009, 11:48 GMT - FX Thoughts for the Day
Published On Wed, Jul 1 2009, 12:14 GMT - FX Thoughts for the Day
Published On Tue, Jun 30 2009, 11:16 GMT - FX Thoughts for the Day
Published On Mon, Jun 29 2009, 11:58 GMT
Kshitij Consultancy Service
| Suite 2G, Tower C, Hastings Court, 96 Garden Reach Road, Kolkata 700 023
http://www.fxthoughts.com | info@kshitij.com
Legal disclaimer and risk disclosure
These views/ forecasts/ suggestions, though proferred with the best of intentions, are based on our reading of the market at the time of writing. They are subject to change without notice.Though the information sources are believed to be reliable, the information is not guaranteed for accuracy. Those acting in the market on the basis of these are themselves responsibly for any profits or losses that might occur, without recourse to us. World financial markets, and especially the Foreign Exchange markets, are inherently risky and it is assumed that those who trade these markets are fully aware of the risk of real loss involved.Related reports
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