Thursday September 10, 2009 - 12:13:42 GMT
Share This Story
FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 10-Sep-2009 - 1211 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
Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
USD-CHF @ 1.0413/17...Resistance in the region 1.0450-70
R: 1.0450-70 / 1.0483-94 / 1.0547-73
S: 1.0370-50 / 1.0327 / 1.0258
Swiss has risen slightly during the day and is now trading above 1.0400. As mentioned earlier Resistance is seen in the region 1.0450-70. As much momentum on the upmove was not seen during the day, we might expect this Resistance region (1.0450-70) to hold in the US session. However if the pair gains upside momentum a break above 1.0470 and a further move above 1.0500 might see a rise towards 1.0530-50.
On the downside Support is seen in the region 1.0370-50, a break below which might see a downmove towards 1.0300-0280
Limit Sell Order:
Sell USD 10K at 1.0520, SL 1.0570, TP 1.0310
GBP-USD @ 1.6598/6601...Consolidating in broad range
R: 1.6644-47 / 1.6670-6700 / 1.7000
S: 1.6450-10 / 1.6377 / 1.6260
The BoE has left the interest rate unchanged and the Cable has risen towards 1.66 in response after finding Support near 1.6480. As the Central Bank gives more time for the economy to recover, the pair looks good to be headed up and target 1.67 this week and 1.70 thereafter. It has been oscillating between 1.6450 and 1.6600 since yesterday. The Support region at 1.6450-1.6410 is likely to keep the pair bullish. A dip is likely to be contained near the Projected Max Low for the day at 1.6409.
AUD-USD @ 0.8575/78...Significant Support in the region 0.8525-00
R: 0.8590-0.8610 / 0.8650-70 / 0.8725
S: 0.8525-00 / 0.8481-71 / 0.8439-20
After breaking below the Support at 0.8570 mentioned earlier and recording a low of 0.8545, Aussie has risen slightly and is now trading just below 0.8600. If it continues to trade below 0.8600 we might see a downmove towards the Support region 0.8525-00 in the US session today. Note that the projected Max-Low for the day is 0.8533.
On the upside a strong break above 0.8600 might see a rise towards the significant Resistance region 0.8650-70.
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."