• Online Forex trading Community

FX Thoughts for the Day

Kshitij Consultancy Service Team from Kshitij Consultancy Service at 11/26/09


USD-CHF @ 0.1.0005/10...Resistance in 1.0030-50 region
R: 1.0030-50 / 1.0080-1.0100 / 1.0145
S: 0.9920-00 / 0.9880-60 / 0.9790

The Resistance region 1.0030-50 mentioned earlier held during the day and Swiss has fallen from the day's high of 1.0040. Our view continue to remain the same on the pair. We expect the Resistance in 1.0030-50 continue to hold. However, a break above 1.0050 might take it up towards 1.0080-1.0100. The broader picture continue to remain bearish and we might see a downmove towards the next significant Support in 0.9880-60 over the next few days.
GBP-USD @ 1.6547/50...Trend Support at 1.65
R: 1.6650-79 / 1.6750-83
S: 1.6473-42 / 1.6409-6384

Cable has fallen sharply today and taken Support of the lower end of the Channel on the daily. If this channel Support which is at 1.6500 today continues to hold, the uptrend is still alive. A break of this Support would bring with it a downward pressure on the pair targeting 1.62 in the medium term.

Earlier we got stopped out of the Long entered at 1.6610 losing 90 pips.

 AUD-USD @ 0.9169/72...Support at 0.9120
R: 0.9220 / 0.9280 / 0.9330
S: 0.9140-20 / 0.9080-65 / 0.9030

Aussie continued to trade lower during the day and is now trading just below the Support at 0.9180 mentioned earlier. If it continues to trade lower, we might see a downmove towards 0.9140-20. We expect the Support at 0.9120 hold if it continues to trade lower. The broader picture continues to remain bullish and we might expect a pull back once again towards 0.9250-0.9300 in the coming days.

AUD 10K Long at 0.9185, SL 0.9110, TP Open

Happy Trading!

Main Menu