•  
  • New York 09:12
  • London 13:12
  • Barcelona 14:12
  • Tokyo 22:12
  • Sydney 00:12

  • SignUp | Login

FX Thoughts for the Day

Thu, Jan 22 2009, 11:02 GMT
by Kshitij Consultancy Service Team

Kshitij Consultancy Services  |  View company's profile


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.
Vote:

1

0

USD-CHF @ 1.1560/63...Remained Ranged
-----------------------
R: 1.1618 / 1.1716
S: 1.1540-19 / 1.1493 / 1.1435-19
Swiss has been ranged between 1.15-1.16 during the day. We await some activity starting off in the pair during the US session. Till the Support at 55-day MA holds, we could see the possibility of rise towards 1.17 over the next session. Resistance at 13-week MA at 1.1545 has been tested quite often during the day. The pair has remained ranged near this Moving Average curve. Having risen past the Resistance at the red trendline (see the chart of Swiss at: http://www.kshitij.com/graphgallery/chfcandle.shtml#candle) on the resolution of the triangle, the pair looks well set to scale further up towards 1.17 during the day. A dip below could see buyers coming in to Support the pair.

Holding:
USD 10K Long at 1.1459, SL 1.1478 (up from 1.1459), TP Open
 

GBP-USD @ 1.3777/81...23-yr low
-------------------------
R: 1.3857-90 / 1.4102-33
S: 1.3705-34 / 1.2900
Cable having dropped to a 23-yr low during the US session yesterday when it touched 1.3620 has seen some short covering during the day as it ranged between 1.3784-1.4028. Attempts to rise further have been curbed by the 55-MA on the hourly candle chart. It might continue to dip. But how much more from here is a big question. But this could probably happen after the current Support on the monthly chart is broken. In the longer term, a break of this Support could be next targetting 1.29. To see the monthly chart of Cable, click on: http://www.kshitij.com/graphgallery/gbpmth.shtml#mth


 
 AUD-USD @ 0.6553/55...Likely to dip Long term
-----------------------------------
R: 0.6603-22 / 0.6669-88 / 0.6774-99
S: 0.6556-46 / 0.6490 / 0.6390 / 0.6350
Aussie has been ranged between 0.6520-0.6620 during the European session. A rise today should be limited to 0.6700 and a dip could find Support near 0.6350 as can be seen from the daily charts. To see the chart of Aussie, click on: http://www.kshitij.com/graphgallery/audma.shtml#ma

Overall Aussie is likely to remain subdued in the longer term on "flight to safety" reasons and likely rate cut announcement early next month when it could fall to the Support mentioned above.

Happy Trading!
 

Published on  Thu, Jan 22 2009, 11:47 GMT


Kshitij Consultancy Services http://www.fxthoughts.com | info@kshitij.com

Archive


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.
Vote:

1

0


Interested in forex trading? forex brokerage firms!


FX Solutions LLC
Contact the broker/FDM
Open a demo account
MG Financial Group
Contact the broker/FDM
Open a demo account
Alpari (US), LLC
Contact the broker/FDM
Open a demo account		FXDD
Contact the broker/FDM
Open a demo account		Alpari (UK) Limited
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2010 "FXstreet.com. The Forex Market" All Rights Reserved.