Monday November 9, 2009 - 11:47:05 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 09-Nov-2009 - 1145 GMT
EURO, JAP YEN and EURO-YEN
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
USD-CHF @ 1.0075/79...Inching towards parity
R: 1.0140-50 / 1.0180-0200
S: 1.0032 / 1.0000-0.9978 / 0.9850
Dollar-Swiss has fallen and is once again targeting to reach below parity on a break of 1.0032. Though there are good chances that this Support at 1.0032 might hold. But if it doesn't the pair could be targeting 0.9850 over the course of this week.
On the upside, a bounce back towards 1.0180-0200 cannot be ruled out. If seen, these would be the levels to go Short.
Limit Sell Order:
Sell USD 10K at 1.0170, SL 1.0260, TP Open
GBP-USD @ 1.6802/07...Bullish. Slight consolidation near 1.6850
R: 1.6850 / 1.7050
S: 1.6750 / 1.6700 / 1.6650
The Cable had continued to surge through the day, breaking free of the Resistance at 1.6750. This is likely to be very bullish for the pair. Dips towards 1.6700-6650 if seen may be used to add to long. We would be targeting 1.70 over the next few days.
The fact that it has consolidated between 1.6250-1.6700 over the last three weeks, may add to the strength of the pair.
GBP 10K Long at 1.6723, SL 1.6723, TP Open
Limit Buy Order:
Buy GBP 10K at 1.6700, SL 1.6580, TP Open
Buy GBP 10K at 1.6645, SL 1.6570, TP Open
AUD-USD @ 0.9276/82...Bullish
R: 0.9324-50 / 9515
S: 0.9210-9200 / 0.9160-50 / 0.9110
Aussie has risen and is looking strong. We might see further rise towards 0.9330-50 in the coming sessions. A strong break above 0.9350 might target 0.9500 in the coming days/weeks. Any sharp downmove is not looking likely now. However, a break below 0.9200 might pull it down towards 0.9150-30 during the day.
Limit Buy Order:
Buy AUD 10K at 0.9180, SL 0.9090, TP Open
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