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Thursday August 25, 2005 - 12:00:00 GMT
FX Thoughts for the Day - www.fxthoughts.com

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Fx-Thoughts for the day - Evening - 25-08-05 ..... 1144 GMT



Aussie @ 0.7596/0.7601...Crucial resistance at 0.7635
-----------------------------------------------------
R: 0.7627-48 / 1.7715
S: 0.7583-73 / 0.7567-58 / 0.7537
The pair has tested the resistance level of 07617-35 and has seen a
minor dip to 0.7589. The intraday support is seen a 0.7579-58.
Essentially, the Aussie too is showing signs on being in a wide range of 0.7475 to
0.7760.

Within that, if the current Support at 0.7579-58 holds and resistance
at 0.7635 is broken, the Aussie may rally to 0.7700 in a couple of days.
In case of a fall below 0.7558 there could be a fall further to 0.7494.



Euro @ 1.2294/7....Either 1.2364 or 1.2256
------------------------------------------
R: 1.2330 / 1.2364-83
S: 1.2290-89 / 1.2274-59 / 1.2249-35
Immediate Support 1.2282. Immediate Resistance 1.2330. An upside break
can take the Euro up to 1.2364-83, the statistically projected
Resistanc region for today-tomorrow. If this Resistance region is also broken,
a further rise to 1.2397-2405 may be seen. A downside break below
1.2282 can bring the Euro down towards 1.2256-36.



$-Yen @ 109.87/92.....Trading sideways
---------------------------------------
R: 110.04-22 / 110.42 / 110.70-83
S: 109.60-42 / 109.15-108.99
Broad range of 109.09-110.76, between two crucial levels on the Daily
and Weekly charts. Its a battle between medium term bearishness and
longer term bullishness. As a result, the market is ranged in the short
term.

Order:
Buy $25K at 109.66, SL 109.00, TP 110.01
Sell $25K at 110.23, SL 110.96, TP 109.66



Euro-Yen @ 135.10/15....TP on Long
-------------------------------------------
R: 135.44-60 / 136.00 / 136.44
S: 135.11-134.90 / 134.73-62 / 134.38-31
Although the uptrend on the 4-hour chart still remains intact, it is
showing signs of slowing down/ tapering off. If so, the Cross could dip
towards 134.80 and lower.

Take Profit:
Hence we elect to Take Profit at the current level on our Long entered
at 134.24 on 23-Aug.



$-Swiss @ 1.2582/7...Fall to 1.2497?
-----------------------------------------
R: 1.2605-20 / 1.2646-68 / 1.2678-89
S: 1.2526-05 / 1.2468-46
Good Resistance now at 1.2613-15. While the market trades below this,
it can fall further towards 1.2497, a very important and crucial Support
on the Weekly chart. A rise above 1.2630 today would suggest that the
market is very confused and not worth trading. We'll wait to see if the
Dollar falls further towards 1.2497 and buy on such a fall.



Cable @ 1.8020/25...Supports here? Or see 1.7950?
----------------------------------------------
R: 1.8085 / 1.8124-46 / 1.8184
S: 1.8024-1.7996 / 1.7977 / 1.7931
The Cable rose to 1.8085 and fell back to the support levels at
1.8028-20 (mentioned in the morning). If the support holds, we might see some
chances of it rallying back to 1.8100 and above. If it breaks below
1.8020, we may see a further fall towards 1.7950, because the 4-hour chart
looks ranged between 1.7907 and 1.8087.



Happy Trading !

 

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John M. Bland, MBA
co-founding Partner, Global-View.com

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