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 @ 1.1369/71...May target 1.1165
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R: 1.1349 / 1.1426 / 1.1470
S: 1.1219 / 1.1165 / 1.1022
Dollar-Swiss fell during the day towards 1.1270 and has bounced close to 100 pips from there. It has been attempting to rise past the sharply falling 8-MA on the 4-hourly. A rise is likely to see tha pair entangled in the Resistance region of 1.1350-1.1395. However unable to sustain the bounce might take the pair towards the target level of 1.1165 mentioned in the morning. We would think there are more chances of a dip towards 1.1165 rather than of a break past the Resistance region. To see the chart of Swiss, click on: http://www.kshitij.com/graphgallery/chfcandle.shtml#candle
GBP-USD @ 1.4812/15...Mixed. 1.53? or 1.45?
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R: 1.4937 / 1.5311 / 1.5516
S: 1.4808 / 1.4784 / 1.4733
Cable has risen towards 1.4950 during the day and in the process spiking above the level of 1.4937 mentioned in the morning. The view remains the same as in the morning that the chances are mixed of an uprise towards the upper end of the channel at 1.5300 or a fall towards 1.4500. Though our preference currently is of a rise than of a fall. To see the chart and the channel on the daily candles, click on: http://www.kshitij.com/graphgallery/gbpcandle.shtml#candle
AUD-USD @ 0.7300/06...May now target 0.75
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R: 0.7354 / 0.7428 / 0.7705
S: 0.7261 / 0.7209 / 0.7165
Aussie has spiked above the Resistance region of 0.7334-54 mentioned in the morning and is hovering around that region. Aussie could well be set for a further uprise towards 0.77-78 as mentioned in the morning. It might during the US session come down towards 0.7260 but eventually is expected to rise from there towards 0.75 in the short term and 0.77-0.78 in the longer term.
Happy Trading!







