Monday April 14, 2008 - 11:47:18 GMT
FX Thoughts for the Day - www.fxthoughts.com
Share This Story:

|

|
Email
FX Thoughts for the day - Evening - 14-Apr-2008....1135 GMT
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 @ 0.9946/0.9950....Bearish Biased
-----------------------------------------
R: 1.0000 / 1.0050
S: 0.9919 / 0.9900
Dollar-Swiss appears to be ranged sideways between 0.9900-0150 for the next few days. In the bigger picture, while the market trades below 1.0150-0200, there are still chances of an eventual fall towards 0.98 and lower in this week, as can be seen on
http://kshitij.com/graphgallery/chfcandle.shtml
During the day, the level of 0.9995 was broken and the pair has dipped. Now the immediate Support is at 0.9919, the statistically projected Max Low for the day.
It also comes on the trendline on the 4-Hourly joining the lows of 0.9637 (17-Mar) and 0.9904 (10-Mar). Below that the important Support is at 0.9900. On
the upside the Resistance is at 1.0000 and then at 1.0050. The pair is bearish biased.
GBP-USD @ 1.9821/25...Can rise towards 1.9900
---------------------------------------------
R: 1.9802 / 1.9840 / 1.9880-9910
S: 1.9747 / 1.9715-00 / 1.9652
There's been a decent rise in GBP-USD so far during the day. We went Long at 1.9700 and have been given profit by the market at 1.9800.
The overall picture is that the Support at 1.9650, as seen on the Weekly Line
chart, the second chart on http://www.kshitij.com/graphgallery/gbpma.shtml, has held. While this Support holds, there are increasing chances of a rise towards 1.9880-9910. Dips towards 1.9750 are now likley to be bought.
AUD-USD @ 0.9247/52...Sell rally
--------------------------------
R: 0.9263 / 0.9292 / 0.9325-45
S: 0.9210-00 / 0.9184 / 0.9135-25
The overall trend looks bearish for a fall towards 0.9130 after the Resistance
at 0.9350-65 held strong on Friday. Within that, the intra-day Support at 0.9200 mentioned in the morning has held so far and has moved up to the first intra-day Resistance level of 0.9240.
If the gains are sustained, the market could test higher Resistances between 0.9265-95. If that Resistance region does not hold, a further rally towards 0.9330 could be seen.
Limit Sell Order:
Sell AUD 10K at 0.9270, SL 0.9360, TP 0.9180
Happy Trading!
Forex Trading News
Forex Research
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
here.
Forex News
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."