Wednesday December 9, 2009 - 12:10:19 GMT
Share This Story
FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 09-Dec-2009 - 1208 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 @ 1.0237/40...Mixed
R: 1.0280-0300 / 1.0350-70 / 1.0450
S: 1.0230-00 / 1.0175-50 / 1.0120
Swiss fell during the day from 1.0281 and recorded a low of 1.0219. The Support in 1.0230-00 region has held and it has risen and trading above this Support region now. If it continues to trade above this Support region, we might see a rise towards 1.0330-50 over the next few sessions. On the downside a break below 1.0200 might pull it down towards 1.0175-50. The pair is now looking mixed with 50-50 chances of move on either side.
GBP-USD @ 1.6323/27...Bearish further.
R: 1.6363 / 1.6400 / 1.6452-75
S: 1.6273 / 1.6118 / 1.6034-18
Cable has surged during the day after breaking below the 1.6250-20 Support. The rise we had mentioned is likely to be contained near 1.64 and thereafter the pair may fall towards 1.5906 (200-DMA) pretty soon. Having broken below the crucial Support, the pair has rendered itself very bearish.
AUD-USD @ 0.9097/0.9099...Resistance at 0.9210
R: 0.9101 / 0.9210 / 0.9280
S: 0.9027 / 0.8960-40 / 0.8920
Aussie has risen during the day breaking above the Support-turned-Resistance at the 55-DMA (0.9101) and is now trading just below the 55-DMA. A strong break above this 55-DMA might see a rise towards the next Resistance seen at 0.9210. Overall the pair continue to remain weak and we expect this Resistance at 0.9210 to hold if any sharp rise above the 55-DMA is seen in the US session today. On the downside the 13-Week MA is the significant Support level to watch for. A break below the 13-Week MA might pull it down towards 0.8960-40.
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."