Friday November 12, 2010 - 11:51:09 GMT
Share This Story
FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 12-Nov10-2010 - 1148 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 @ 0.9745/48...Buy dips
R: 0.9800 / 0.9841 / 0.9900
S: 0.9700-677 / 0.9620-00 / 0.9550
Dollar-Swiss has moved in a range of 0.9725-75 and we continue uor morning views on the pair today.
Dollar-Swiss touched a low of 0.9671, way above our order at 0.9620 yesterday. There are still some chances of an upmove on the pair towards 0.9850 today. The suggested max high for the day is 0.9841 and we may consider buying near 0.9700 for a rise on the pair in the US session today.
GBP-USD @ 1.6055/60...Buy dips
R: 1.6100-20 / 1.6180-6200 / 1.6250
S: 1.6000 / 1.5959 / 1.5900
Cable witnessed a dip towards 1.6000 as expected during the day. However, it has bounced back from the day's low of 1.5985 and is now trading once again above 1.6000. Our view remains the same on the pair. The 21-DMA (currently at 1.5959) is a very significant Support level to watch for on the downside. We expect this 21-DMA Support to hold incase a break below 1.6000 is seen in the US session today once again. The broader picture is still looking bullish and we might expect a bounce back once again towards 1.6100-6200 from the 1.6000-5950 Support region.
Limit Buy Order:
Buy GBP 10K at 1.5980, SL 1.5890, TP 1.6280
AUD-USD @ 0.9905/08...Buy now and on dips
R: 1.00-0.9970 / 1.0074-100 / 1.0140
S: 0.9873-50 / 0.9800 / 0.9750
Wild movement in Aussie today. The pair fell to touch a low of 0.9824 in the European session today, tested the strong and important Support at 0.9850 and bounced back. The market is currently near 0.9900 and may now see some rally towards 1.00-01 over today and monday. We may consider buying for an eventual rise on the pair next week.
Limit Buy Order:
Buy AUD 10K at 0.9880, SL 0.9790, 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."