Monday October 11, 2010 - 12:55:26 GMT
Share This Story
FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 11-Oct-2010 - 1253 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 @ 0.9620/22...Sell rallies
R: R: 0.9681 / 0.9706-33
S: 0.9585 / 0.9554-35 / 0.9488
Dollar-Swiss is retaining its downtrend and is continuing to trade strong on the downside. A further dip towards 0.9500-0.9450 is looking likely in the coming days. On the upside Resistance is seen at 0.9700 and a rally towards this Resistance can be considered for taking Short positions.
Limit Sell Order:
Sell USD 10K 0.9680, SL 0.9770, TP 0.9470
GBP-USD @ 1.5931/35... Ranged
R: 1.5960-70/ 1.6010-15/ 1.6150.
S: 1.5890-5900/ 1.5820-35/ 1.5660-70.
Cable has managed to hold its 1.59 handle and in a closed US sessions we are not expecting much of move. Our morning view remains intact:
"On the charts Cable is ranged between 1.5890-1.5970, only a breach below 1.5890 could shift the trend for the week flat to mildly bearish and target 1.5820-35. Above 1.60, we expect a rally towards 1.6150."
AUD-USD @ 0.9843/46...Betting on uptrend, buy dip
R: 0.9915-32 / 1.0083
S: 0.9828-12 / 0.9754 / 0.9699
The Aussie has seen a slight dip during the day, but is holding above the Support at 0.9800. Below this, the important Support to watch is 0.9775 (wrongly mentioned at 0.9875 in the morning). If this holds tomorrow (it might), a further rise towards Parity is possible over the course of the week.
In case of a break below 0.9775, there would be chances of a fall towards 0.96. A fall below that also, if seen, may suggest a near term top is in place and might trigger a fall towards 0.93.
Limit Buy Order:
Buy AUD 10K at 0.9780, SL 0.9710, TP 1.0080
Buy AUD 10K at 0.9750, SL 0.9700, TP 1.0100
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."