Thursday August 12, 2010 - 11:48:07 GMT
Share This Story
FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 12-Aug-2010 - 1145 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 1.0554/57...May fall towards 1.0500
R: 1.0600 / 1.0650 / 1.0700
S: 1.0500 / 1.0450
As expected, the pair has come down in the Asian session and may see some more fall towards 1.0500 on a break below 1.0550 in the US session today. Though, please note that we are not looking for any immediate deep fall on the pair in the coming sessions over today and tomorrow.
GBP-USD @ 1.5595/98...May see some more fall
R: 1.5700 / 1.5800 / 1.5900
S: 1.5535 / 1.5500 / 1.5421
Cable has come down in the Asian and the European session today. In our morning comments we said that there are chances of the pair breaking on the downside which may now be seen. The pair may go down towards 1.5550-00 in the US session today followed by a quick recovery above 1.5600 in the coming sessions over today and tomorrow.
Please note that in the longer term, we continue to hold our view of a double bottom on the monthly charts which may result in a very strong upmove in the coming weeks/ months towards 1.62-63.
R: 0.9000 / 0.9050 / 0.9100
S: 0.8850-30 / 0.8719
"We continue to hold our morning view on the pair today."
Aussie broke the Support at 0.9000 and is currently trading lower. The next significant Support is in the region of 0.8830-50 (0.8839 is the 200-MA on the 4-hourly charts and 0.8852 is the 100-DMA) which may or may not be seen in the coming sessions today. We are not very sure of the immediate movement on the pair and do not recommend a trade immediately, though if the pair comes down, buying near 0.8830-50 may be considered.
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."