Friday April 23, 2010 - 12:14:11 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 23-Apr-2010 - 1212 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 @ 1.0769/72...May fall
R: 1.0800 / 1.0866 / 1.0911
S: 1.0775-60 / 1.0690-700 / 1.0650-35
As expected, Dollar-Swiss has come down to trade below 1.0800 in the European session today. We may see the pair fall towards 1.0700 on a break below 1.0775-60 in the coming sessions over today and monday. We se less chances of an immediate upmove in the US session today.
GBP-USD @ 1.5356/59..Strong Support in the broad 1.5320-1.5280 region
R: 1.5375-1.54 / 1.5450 / 1.5480-95
S: 1.5320-00 / 1.5280 / 1.5220-00
Cable is ranged between 1.53-54. As no significant movement was seen on either side, our view remains the same on the pair as mentioned in our Morning Commentary and is given below.
Though Cable is continuing to trade below 1.54 since the US session yesterday, it is not showing much strength on its downmove thereby keeping the overall bullish sentiment intact. Also, strong Support is seen in the broad 1.5320-1.5280 region. We expect this broad Support region (1.5320-1.5280) to hold and might see a bounce back once again in the coming sessions.
GBP 10K Long at 1.5375, SL 1.5285, TP Open
As soon as the market trades 1.5450 trail SL up to 1.5380
Limit Buy Order:
Buy GBP 10K at 1.5300, SL 1.5270, TP Open
AUD-USD @ 0.9218/21...Buy Dips
R: 0.9266 / 0.9310-25 / 0.9350-58
S: 0.9150 / 0.9110-100 / 0.9066
Aussie has continued to trade near the crucial level of 0.9200 in the Asian and the European Session today. We need to see whether it honours or breaks the Support at 0.9200 in the US session today. In case of a break below 0.9200, it may move towards 0.9150 in the US session today, which may hold, followed by a rise towards towards 0.9300-50 in the coming sessions over today and monday.
AUD 10K Long @ 0.9230, SL 0.9140, TP Open
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