Monday October 12, 2009 - 11:48:41 GMT
Share This Story
FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 12-Oct-2009 - 1146 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 @ 1.0280/83...Bearish
R: 1.0320 / 1.0350-65 / 1.0410
S: 1.0257 / 1.0120-00
Swiss has fallen sharply after testing the Resistance at 1.0350 and is looking to move once again towards 1.0220. A break of this Support may call for a further fall towards 1.0100 over the course of next few days. The Resistance region at 1.0350-65 has held several times since the 3rd of October and hence increasing the importance of this Resistance making the pair even more bearish. The bearish would be at question only on a break of this Resistance.
The Projected Max High Low for the day is at 1.0257.
USD 10K Short at 1.0350, TSL 1.0330 (down from 1.0430), TP Open
GBP-USD @ 1.5802/06...Bearish
R: 1.5849 / 1.5874-88 / 1.5920-60
S: 1.5750-22 / 1.5600 / 1.5550
Cable fell sharply after rising towards 1.5880 during the day. Though it has fallen even before testing the Resistance at 1.5920-60, but chances of a fresh rise towards 1.5920-60 if not higher may be seen before an eventual dip towards 1.56-55 over the next few days.
The S-H-S on the weekly continues to keep the pair lower targeting 1.54 over the next few weeks.
Limit Sell Order:
Sell GBP 10K at 1.5880, SL 1.5930, TP Open
Sell GBP 10K at 1.5960, SL 1.6030, TP Open
AUD-USD @ 0.9062/64...Check Resistance at 0.9080-96
R: 0.9080-96 / 0.9165 / 0.9200-30
S: 0.9037 / 0.9008 / 0.8952
Aussie has risen sharply from a low of 0.8985. The view is still bullish for a rise towards 0.9200-30 in the next few sessions after a comprehensive break of 0.9080-96 Resistance region.
If, however, the Resistance continues to hold, the pair may correct a little and may come down near 0.9000. However, not much participation is seen as US is on a holiday today. The Projected Max Low for the day is at 0.8952.
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."