Thursday November 25, 2010 - 12:06:29 GMT
Share This Story
FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 25-Nov10-2010 - 1204 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 @ 1.0004/07...May see 1.0070-80
R: 1.0047-55 / 1.0100
S: 0.9900 / 0.9850 / 0.9825-00 / 0.9750
Dollar-Swiss tested the important Resistance at 1.00 and may now move up to 1.0070-80 in the US session today. We would look to sell at those levels (1.0070-90) for some dip on the pair in the coming sessions tomorrow or next week.
Limit Sell Order:
Sell USD 10K at 1.0070, SL 1.0160, TP Open
GBP-USD @ 1.5753/56...Watch crucial Support at 1.5700
R: 1.5800 / 1.5860 / 1.5950
S: 1.5710-00 / 1.5648 / 1.5600
Cable is still oscillating between 1.5700-5800. Our view remains the same on the pair as mentioned in our Morning comments and it is given below.
With lack of upside momentum, a test of the crucial Support at 1.5700 is looking likely in the coming sessions. We expect this Support at 1.5700 to hold and might see a bounce back thereby continuing the overall uptrend. However, a break below 1.5700 might increase the chances of further dip towards 1.5600-5550. Overall the Support at 1.5700 will have to be watched carefully and since the immediate outlook is not clear we would want to stay away and watch the market to get a clear picture.
AUD-USD @ 0.9810/13...May fall towards 0.9700 on a break below 0.9765
R: 0.9825-50 / 0.9900-10 / 0.9950
S: 0.9765 / 0.9700-680 / 0.9635
The markets moved up to touch a high of 0.9832, closing out our short (entered at 0.9825) with a 10 pip profit. The markets are getting good Support from the 55 DMA (0.9764) from the past 3 days and we need to see whether this Support holds or breaks in the coming sessions over today and tomorrow. On a break below 0.9750, the pair may fall towards 0.9700-650 tomorrow. At the same time the Resistance near 0.9850-25 region is also holding. We see 60-40 chances of a dip on the pair. We prefer staying out of markets.
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."