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

• Send
• Print
• Add To
• Rss

49bb20d3-7d46-43dc-963f-902fb99b71e7

0

0

FX Thoughts for the Day

Fri, Jul 3 2009, 12:23 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 @ 1.0874/77...Ranged
-------------------------
R: 1.0900 / 1.0988 / 1.1025
S: 1.0848 / 1.0817-0800 / 1.0749
Dollar-Swiss has once again risen towards 1.09 during the day and has come off a little since then. It is likely to continue trading in a range as during the US session, trading is likely to be muted as the US holidays. The range that we can look forward to is 1.0800-1.1025. However a break past the Support region of 1.0850-0810 is likely to take take the pair further towards the Projected Max Low for the day at 1.0749. We shall have to see whether the week ends with a quiet day today or lower volumes brings in volatility with them. Overall the range of 1.0650-1.1025 would hold going forward.
 

GBP-USD @ 1.6346/49...Support at 1.6278
----------------------------
R:1.6374/1.6424/1.6550
S:1.6324/1.6278/1.6179
Cable has fallen after testing the 100-MA Resistance level on 4 hour chart and is moving towards 200-MA Support on the 4-hr chart at 1.6278. This Support is likely to hold for today and thence, the pair is likely to bounce towards 1.6424.

If Resistance at 100-DMA breaks,we may see further rise towards 1.6550.

But as of now it seems that, this pair may not break these Supports and Resistances today.

Holding:
GBP 10K Long at 1.6340, SL 1.6260, TP 1.6420

 
AUD-USD @ 0.7978/83... Range Trading
----------------------------
R: 0.8012/0.8037/0.8068
S: 0.7972/0.7902/0.7846
Aussie has traded in a narrow range of (0.7949-0.7999) and is currently testing 200-MA Resistance level on 4 hour chart. If this Resistance holds, it may be pressured down towards 0.7902 where a trendline Support exists on the daily chart (joining lows at 0.6307 on 10/03/2009 and 0.6989 on 28/04/2009). Else, it may rise towards the 100-MA Resistance level on 4 hour chart and a further rise may lead this pair to 0.8068 (Max Projected high for the day).

Happy Trading!

Published on  Fri, Jul 3 2009, 12:42 GMT