•  
  • New York 18:18
  • London 23:18
  • Barcelona 00:18
  • Tokyo 08:18
  • Sydney 10:18
  • SignUp | Login

0

0

FX Thoughts for the Day

Thu, Jul 2 2009, 11:48 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 to our newsletter.

USD-CHF @ 1.0838/42...May move up towards 1.10
R: 1.0849-53 / 1.0882 / 1.1025
S: 1.0788 / 1.0700-0686 / 1.0554
Dollar-Swiss is testing the Resistance region mentioned in the morning. If successful, it could move up towards 1.10 during the US session or by the end of the week. If it finds Resistance near 1.1025 and comes off, the range of 1.0650-1.1025 would continue to hold over the next few days. Besides the braiding and flattening MAs on the 4H chart continue to provide the pair the pivot on which it could cling onto even as it oscillates to and fro around this MAs region (1.0812-1.0838). 
 

GBP-USD @ 1.6389/94...Important Support at 1.6260
R: 1.6430-60 / 1.6502 / 1.6578
S: 1.6348 / 1.6250 / 1.6163-35
Cable has bounced from the low of 1.6329 and is likely to move further up. A rise past 1.6460 might take the pair further up towards 1.6600. On the downside, it has important Support near 1.6260-40 (where 1.6260 is the 200-MA on the 4H chart). A break past this which does not look likely may take the pair down towards 1.6163-35. The Projected Max Low for the Day is at 1.6250 which might be honoured.

Limit Buy Order:
Buy GBP 10K at 1.6260, SL 1.6185, TP 1.6500

 
 AUD-USD @ 0.8017/22...Testing important Support
R: 0.8060-69 / 0.8150-69 / 0.8247
S: 0.8032-04 / 0.7942-36 / 0.7858
Aussie is testing an important Support region of 0.8004-0.8032. A break here might be contained at the 200-MA on the 4H chart at 0.7975 which should be a good opportunity to go Long. However, considering the fact the pair is moving in a downward moving channel on the 4H chart, a break of this Support is also not unlikely. Hence a break of 0.7975 might open the gates for further downside towards 0.7850. But we would prefer a rise towards 0.8150 over the course of US session or by tomorrow.

Earlier we got Stopped out at Cost, the Long entered at 0.8015.


Happy Trading!
 


Archive

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

U.S. Forex Market Commentary by GCI
Tue, Feb 9 2010, 22:21 GMT

Euro is catching a breather on Tuesday by Wells Fargo Investments, LLC
Tue, Feb 9 2010, 14:54 GMT

Currency Majors Technical Perspective by FXstreet.com Independent Analyst Team
Tue, Feb 9 2010, 14:27 GMT

Forex Daily Analysis - Euro-Zone Debt Concerns Weigh Heavily on EUR by ForexYard
Tue, Feb 9 2010, 14:03 GMT

Stocks Getting a Boost as Speculators Await Greek Resolution by ForexHound.com
Tue, Feb 9 2010, 13:37 GMT

audusd, gbpusd, usdchf

[ View All ]

Related content

Forex: Currencies tied to commodities rise sharply
FXstreet.com | Tue, Feb 9 2010, 21:28 GMT

Forex: GBP/USD pulls back below 1.5700
FXstreet.com | Tue, Feb 9 2010, 20:11 GMT

Forex: GBP/USD breaks above 1.5700 on rumors about Greek aid
FXstreet.com | Tue, Feb 9 2010, 17:19 GMT

Forex: USD/CHF sets fresh 3-day low at 1.0625
FXstreet.com | Tue, Feb 9 2010, 16:57 GMT

Forex: GBP/USD rebounds at 1.5650 and falls below 1.5600
FXstreet.com | Tue, Feb 9 2010, 16:21 GMT

audusd, gbpusd, usdchf

[ View All ]

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.