Monday November 29, 2010 - 13:10:52 GMT
Share This Story
FX Thoughts for the Day - www.fxthoughts.com
FX Thoughts for the day : 29-Nov10-2010 - 1300 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 @ 1.0018/21...Wait and watch
R: 1.0047-55 / 1.0116
S: 1.00 / 0.9950 / 0.9900
Dollar-Swiss tested the Support at 1.00 and has again come above 1.00. We continue to hold our morning view on the pair today.
Dollar-Swiss touched a high of 1.0046 in the US session today followed by a dip near 1.00 figure. The pair honoured the 100-DMA Resistance (1.0055) this morning and we need to see if it manages to go below 1.00 in the coming sessions today. The markets were trading in a small range of 1.0000-50 last Friday and a break below 1.00 may see further dip towards 0.9950 later in the day. We will want to stay out of the markets in this session.
GBP-USD @ 1.5583/86...Might break below 1.5560-40 Support region.
R: 1.5600 / 1.5645 / 1.5700
S: 1.5560-40 / 1.5450 / 1.5345
Cable has come off from the day's high of 1.5647 and is now trading below 1.5600. Failure to sustain above 1.5600 might retain the overall downside pressure. As mentioned in our Morning comments, 1.5560-40 is a very significant Support region to watch for. We see greater chance of a break below this Support region (1.5560-40) as the pair failed to sustain above 1.5600. A break below 1.5540 might pull it further down towards 1.5350. On the upside Resistance is seen at 1.5700 which might be tested if a bounce back is seen once again from the 1.5560-40 Support region.
AUD-USD @ 0.9624/27...Some more downmove possible
R: 0.97 / 0.9825-50 0.99
S: 0.9600-593 / 0.9525-14-00
Aussie tested the Resistance near 0.97 figure and slipped again. In the coming sessions today, we may see a fall towards 0.96, which may hold. Though, a break below 0.96 may take the pair towards 0.9550. Over today and tomorrow we will not enter any trades and will wait for some clarity/stability and then take trades.
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."