Wednesday November 17, 2010 - 12:33:13 GMT
Share This Story
FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 17-Nov10-2010 - 1230 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 @ 0.9962/65...May move up
R: 1.00 / 1.0050 / 1.0100
S: 0.9900 / 0.9865 / 0.9800
Dollar-Swiss came down to touch a low of 0.9927, missing our long by 2 pips... OUCH!!!
In the coming sessions over today and tomorrow, we may now see some upmove on the pair towards 1.0000-1.0050, though entering a long at current levels may not be advisable.
GBP-USD @ 1.5884/87...Bullish
R: 1.5930-50 / 1.6000 / 1.6100
S: 1.5850 / 1.5830-00 / 1.5750
Cable bounced back very well from the day's low of 1.5854 and witnessed a break above 1.5900 during the day. Although it has come off from 1.5937 and is trading once again below 1.5900, it is not showing much downside momentum. The broader outlook is bullish and we migh expect a rise once again towards 1.6000 in the coming sessions. 1.5830-00 is a significant Support region to watch for on the downside which is expected to hold incase a dip is seen in the US session today.
GBP 10K Long at 1.5884, SL 1.5790, TP Open
AUD-USD @ 0.9761/64...The support breaks, may fall towards 0.9650
R: 0.9800 / 0.9850-75 / 0.9920
S: 0.9725 / 0.9670-50 / 0.9600
Aussie has been trading in a range of 0.9725-9790 in the Asian and the European session today. In the coming sessions today, we may see some more dip on the pair towards 0.9700-650, where we may consider buying. For trading purposes we may consider selling some at current levels with tight stop targeting 0.9700-650, and buying again at those levels.
Market Trade (at the time of writing):
Sell AUD 10K at current levels, SL 0.9825, TP 0.9650
Limit Buy Order:
Buy AUD 10K long at 0.9670, SL 0.9580, 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."