Tuesday September 29, 2009 - 13:02:47 GMT
Share This Story
FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 29-Sep-2009 - 1230 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 @ 1.0390/95...Sell rally
R: 1.0400 / 1.0450-70 / 1.0510-30
S: 1.0335-20 / 1.0300-0275 / 1.0220-00
Swiss has risen during the day and is now trading just below 1.0400. As mentioned earlier if the current upside momentum continues a break above 1.0400 might see this corrective rally continuing towards 1.0450-70 in the coming sessions/days. However, the overall trend continues to remain bearish and we might expect a pull back from 1.0450-70.
On the downside Support is seen in the region 1.0285-70, a break below which might pull it down towards 1.0220-00.
Limit Sell Order:
Sell USD 10K at 1.0470, SL 1.0530, TP Open
As soon as the market trades 1.0400 after entry bring the SL down to 1.0455
GBP-USD @ 0.5978/81...Might rise towards 1.61
R: 1.6120-25 / 1.6179 / 1.6270-80
S: 1.5890 / 1.5856 / 1.5800
Cable has risen sharply during the day. As metioned earlier, if the current upside momentum continues, we might see a rise towards 1.61 or even 1.62 in the coming sessions/days. However, the overall picture continues remain bearish and we expect a pull back from 1.61-62 once again towards 1.5900-5850.
AUD-USD @ 0.8722/26...Significant Resistance in the region 0.8750-75
R: 0.8750-75 / 0.8830 / 0.8890-0.8900
S: 0.8700-0.8680 / 0.8655-40 / 0.8615-00
The Resistance region 0.8750-75 held and Aussie fell during the day. However it has risen now slightly from the low of 0.8710. Our view continues to remain the same on the pair. On the upside a strong break above the significant Resistance region 0.8750-75 might see a rise towards 0.8900 in the coming sessions/days. On the downside a break below 0.8700 might pull it down towards 0.8650-30.
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."