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

FX Thoughts for the Day

Tue, Apr 21 2009, 12:00 GMT
by Kshitij Consultancy Service Team

Kshitij Consultancy Services  |  View company's profile

Vote:

ebb623a8-4236-4bad-bb64-f81438a02f68

7

0

• Send
• Print
• Add To
• Rss

USD-CHF @ 1.1691/94...Holding Long
----------------------------------
R: 1.1710-20-42 / 1.1803-18
S: 1.1660-45-30 / 1.1566-40-21
Dollar-Swiss dipped a little during the day but has bounced a bit again, remaining more or less still since the morning. While it remains above 1.1660-30, the chances of rise towards 1.1850 remain valid. However, a fall below 1.1630 may delay/ negate the upside potential.

Holding:
USD 10K Long at 1.1711, SL 1.1660, TP 1.1770.

 
 GBP-USD @ 1.4530/34...Remains bearish
--------------------------------------
R: 1.4610 / 1.4655
S: 1.4517 / 1.4475 / 1.4425
The Support at 1.4425 mentioned in the morning did not break and instead the Pound bounced up to a high near 1.4607. It has come off a bit from there again. The market may be ranged between 1.4625 and 1.4425 for a while now before the Support at 1.4425 finally breaks. The overall trend remains bearish while the market remains below 1.4655-65.

 
 AUD-USD @ 0.6985/88...Holding Short
---------------------------------
R: 0.7022-35 / 0.7050 / 0.7085-7105
S: 0.6950-35 / 0.6913 / 0.6865
The Aussie bounced a bit during the day, but has come off again. If and while it remains below 0.7035 now, it may stage a further decline towards 0.69 and lower. From here, a rise past 0.7050 will be needed to stave off the downside potential. That said, there is some Support at 0.6935 (200-MA on the 4-hour chart), which needs to be borne in mind.

Holding:
AUD 10K Short at 0.7008, SL 0.7050, TP 0.6900. As soon as the market trades 0.6950 hereafter, bring SL down to 0.7008.

Happy Trading!
 

Published on  Tue, Apr 21 2009, 12:11 GMT

Vote:

ebb623a8-4236-4bad-bb64-f81438a02f68

7

0

• Send
• Print
• Add To
• Rss