Monday June 15, 2009 - 12:29:52 GMT
Share This Story
FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 15-JUN-2009 - 1225 GMT
USD-CHF @ 1.0908/11...Resistance region 1.0964-1.1008
R: 1.0930 / 1.0958-64 / 1.1008
S: 1.0838-20 / 1.0806 / 1.0786-69
Dollar-Swiss continued with the uptrend seen since the last 2-3 days. Having broken past 1.0910, there could be chances of an upside towards 1.1000 during the US session though there is some Resistance at 1.0964. The region near 1.0964-1.1008 is likely to be crucial. If this holds, we could see some consolidation happening between 1.0850-1.1000. But if it doesn't, there could be a sharp rise towards 1.1150-70 over the next couple of days.
Earlier, we got stopped out of the Long entered at 1.0916.
Limit Buy Order:
Buy USD 10K at 1.0840, SL 1.0750, TP Open
USD 10K Long at 1.0695, TSL 1.0770 (up from 1.0730), TP Open
GBP-USD @ 1.6351/55...Support at 1.6287-82
R: 1.6414 / 1.6458 / 1.6527
S: 1.6287-82 / 1.6236-20 / 1.6090
Cable has traded lower during the day. It has taken Support of the 8- and 13-DMA at 1.6282 and 1.6287 respectively. As mentioned earlier the 21-DMA at 1.6090 is likely to be the crucial. A break past this can confirm the double top formation on the daily candle. The 8-DMA having cut the 13-DMA from above, there could be some more downside, which is also seconded with the declining Simple MACD. A break past the Support at 1.6287-82, could see the pair moving towards 21-DMA rather sharply.
AUD-USD @ 0.8015/19...Breaks 13-DMA
R: 0.8023-26 / 0.8088-8113 / 0.8147
S: 0.7978-60 / 0.7928 / 0.7881
Aussie, unlike Cable, has broken past the Support of the 8- and 13-DMA. Here again the 8-DMA is cutting the 13-DMA from above. The pair is likely to take Support near the 21-DMA (0.7933), beyond which it could fall sharply thus confirming the double top formation as in Cable. We shall have to see both of these pairs together as they look to be behaving in the same fashion now.
Forex Trading News
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
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."