Thursday September 16, 2010 - 12:16:49 GMT
Share This Story
FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 16-Sep-2010 - 1214 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 1.0105/08...Buy dips
R: 1.0150-75 / 1.0245-60 / 1.0291-300
S: 1.0012-00 / 0.9980-75 / 0.9916
Dollar-Swiss has shot in the past 15 minutes. We now see good chances of the pair holding on to the Support at 1.0050 in the coming days followed by strong upmove towards 1.04-05 in the next few days/weeks.
For trading purposes, we would want to approach the markets from the long side near 1.0075.
GBP-USD @ 1.5620/23...Buy dips
R: 1.5600 / 1.5635-50 / 1.5745
S: 1.5500 / 1.5400-380 / 1.5353
Cable moved up to touch a high of 1.5626 followed by a dip towards 1.5532 in the European session today. The pair is again trading above 1.5600 and we now see limited downside on the pair in the coming sessions over the next few days. We would want to buy at levels below 1.5575 for an eventual ride past 1.5650-700 in the coming days.
AUD-USD 0.9370/73...Buy Dips
R: 0.9405 / 0.9451 / 0.9518
S: 0.9300-280 / 0.9240-30 / 0.9180-60
Aussie touched a low of 0.9330 in the European session today followed by an upmove. We see good chances of the pair moving up towards 0.9500-50 in the coming sessions over next few days. For trading purposes, we will want to hold on to our longs and add on dips below 0.9350 for eventual upmove towards 0.9500.
Please note that 0.9250-300 is a strong trendline Resistance on the Monthly charts and we see good chances of the pair moving up towards 0.9450-550 to test these levels on an intra month basis followed by an eventual close below these levels on a monthly basis.
AUD 10K Long at 0.9340, SL 0.9250, TP Open
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."