Wednesday September 22, 2010 - 13:37:23 GMT
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FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day - 22-Sep-10
USD-CHF 0.9888/91...May see some upmove
R: 1.0020-30 / 1.0069-90 / 1.0150-75
S: 0.9864 / 0.9800 / 0.9750
Dollar-Swiss fell in the Europeann session today to record a low of 0.9973. The pair has some strong trendline Support on the monthly charts near 0.9850 which may hold followed by some upmove in the coming days. However, a break below 0.9850 may pull the pair down towards 0.9500 in the coming weeks. In the coming sessions, we see good chances of Support near 0.9850 holding followed by some surge in the coming sessions over today and tomorrow. For trading purposes, we would like to go long near 0.9850 with tight stops.
GBP-USD @ 1.5635/38...Sell Rallies
R: 1.5700-25 / 1.5800 / 1.5850-900
S: 1.5600 / 1.5500 / 1.5450
Cable moved up to touch a high of 1.5715 in the European session today. The pair may see some dip towards 1.5600 in the coming sessions today however, we will have to wait and watch if the pair manages to close above 1.5635. A weekly close above 1.5635 may be very bullish for the pair and may take it towards 1.5900-50 in the next week.
AUD-USD 0.9557/60...Sell Rallies
R: 0.9600-25 / 0.9675 / 0.9850
S: 0.9500 / 0.9400-387 / 0.9300-280
We continue to hold our morning view pon the pair today.
Aussie touched a high of 0.9583 in the US session yesterday and is currently trading above 0.9550. The pair may move up further towards 0.9600-25 where it has some important Resistances which may be honoured followed by a dip in the coming sessions over today and tomorrow. Please note the suggested max high for the day is 0.9620.
Limit Sell Order:
Sell AUD 10K at 0.9625, SL 0.9715, TP Open
Sell AUD 10K at 0.9650, SL 0.9715, TP Open
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