EURO, JAP YEN and EURO-YEN
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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Dear Readers,
We are closed tomorrow on account of our "Republic Day" holiday. The FX Thoughts service will resume from Friday (27-Jan-12).
USD-CHF @ 0.9329/32...Watch Resistance at 0.9350
R: 0.9350 / 0.9400-20
S: 0.9315-00 / 0.9250 / 0.9200
Dollar-Swiss has risen past its 55-DMA Resistance. 0.9350 is the next significant Resistance level that needs to be watched. A strong rise past 0.9350 will ease the downside pressure and take the pair further up towards 0.9400-20 in the coming sessions. On the other hand if 0.9350 holds, a pull back to 0.9300-250 is possible once again. We will have to wait and see what happens.
Holding:
USD 10K Short at 0.9267, SL 0.9355 (down from 0.9360), TP 0.9180
As soon as the market trades 0.9230 bring SL to 0.9325 and as soon as the market trades 0.9210 trail SL to 0.9260
USD 10K Short at 0.9272, SL 0.9360, TP 0.9205
As soon as the market trades 0.9230 trail SL to 0.9265 and as soon as the market trades 0.9215 there after bring TSL to 0.9235
GBP-USD @ 1.5566/69...Sell rallies
R: 1.5600-20 / 1.5650-70 / 1.5700
S: 1.5520-00 / 1.5450 / 1.5400
Cable fell sharply during the day following the bad economic data release today. However, it is bouncing back again from its low of 1.5529. The pair has been ranged over the last couple of days. Within this range our bias is bearish. While above 1.5500, the chances of seeing 1.5650-700 on the upside is still alive and rallies to this 1.5650-700 Resistance region can be sold.
Limit Sell Order:
Sell GBP 10K at 1.5680, SL 1.5770, TP 1.5520
AUD-USD @ 1.0467/70...Important Support at 1.0400
R: 1.0500 / 1.0550 / 1.0600
S: 1.0420-00 / 1.0350
Aussie has come off sharply from its high of 1.0541. A test of 1.0400 looks likely now. But whether the downmove would extend further to 1.0350 breaking below 1.0400 is the question. We will have to wait and see what happens. A bounce back from 1.0400 would keep alive the chances of seeing 1.0600 on the upside.
Hap
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