• Online Forex trading Community

FX Thoughts for the Day

Kshitij Consultancy Service Team from Kshitij Consultancy Service at 01/12/10


USD-CHF @ 1.0190/93...Sell on rally
R: 1.0200 / 1.0250-70 / 1.0330-60
S: 1.0125-00 / 1.0050 / 1.00

Swiss is once again tested 1.0200 and is now trading near 1.0200. As metioned earlier a strong break above 1.0200 might take it up towards the next significant Resistance seen in 1.0250-70 region. As the broader picture remains bearish we expect this Resistance region 1.0250-70 to hold in the US session today. Note that the projected Max-High for the day is 1.0255. On the downside Support is seen in 1.0125-00 region which is holding since the Friday's fall. A break below 1.0100 might see 1.0050-30 on the downside.

Limit Sell Order:
Sell USD 10K at 1.0260, SL 1.0340, TP Open

GBP-USD @ 1.6130/34...Sell rallies
R: 1.6180 / 1.6212-24 / 1.6281
S: 1.6067-46 / 1.5994 / 1.5868

Cable rose during the day and recorded a high of 1.6164. Further upside may again face Resistance near 1.6180. We intend to go Short near this level. As long as the Resistance at 1.62-1.63 is overhead, there are good chances of a fall towards the 55-week MA (1.5687) over the next couple of weeks. A strong rise past 1.63 would call for a review of the bearish view. Given this, we would want to sell rallies than buy dips.

For today, the Projected Max High and Low for the day is at 1.6222 and 1.5994 respectively.

Limit Sell Order:
Sell GBP 10K at 1.6180, SL 1.6250, TP Open

 AUD-USD @ 0.9228/32...Holding Long
R: 0.9280 / 0.9330 / 0.9410
S: 0.9200-0.9180 / 0.9150 / 0.9120-00

After falling and recording a low of 0.9206, Aussie has risen slightly. As mentioned earlier significant Support is seen in 0.9200-0.9180 region which we expect to hold in the US session today and can see a bounce back from this Support region towards 0.9350-0.9400 as the broader picture remains bullish. Note that the projected Max-Low for the day is 0.9187. However, a strong break below 0.9180, which is not looking likely now, might increase the chances of a further fall towards 0.9150-30

AUD 10K Long at 0.9225, SL 0.9135, TP Open

Happy Trading!

Main Menu