Thursday July 29, 2010 - 12:19:07 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 29-Jul-2010 - 1217 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 1.0450/53...Ranged with a bullish bias
R: 1.0550 / 1.0615-35 / 1.0700
S: 1.0400-384 / 1.0348 / 1.0250
Dollar-Swiss has fallen in the European session today and is currently trading below 1.0450. We see 1.0450-00 to be a good Support region which may hold followed by some upmove in the coming sessions over today and tomorrow. Please note that 1.0447 is the suggested Max Low for the day.
Overall we see good chances of the pair move in the range of 1.0400-600 before a break on the higher side is visible.
Limit Buy Order:
Buy USD 10K Long at 1.0400, SL 1.0335, TP Open
GBP-USD @ 1.5613/16...Ranged
R: 1.5635 / 1.5700 / 1.5758
S: 1.5547 / 1.5487-66 / 1.5400
As expected, Cable touched a high of 1.5662 in the European session today and is now trading lower. We now see good chances of the pair move lower towards 1.5550-00 which should hold in the coming sessions followed by an upmove in the next few days.
AUD-USD 0.9014/17...Strong Resistance in the 0.9050-90 region
R: 0.9050 / 0.9093 / 0.9150
S: 0.8950 / 0.8900 / 0.8862-42
Aussie has went up further in the Asian and the European sessions today, in line with our expectations. The pair has strong Resistance in the region of 0.9050-90 which is expected to hold, followed by another dip towards 0.9000-8950 in the coming sessions tomorrow.
However, an immediate break above 0.9100 may take the pair towards 0.9150-200, though we see good chances of 0.9090 holding. Also, please note that 0.9095 is the suggested max high for the day.
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