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USD-CHF @ 0.9233/36...At crossroads
R: 0.9266 / 0.9298
S: 0.9202-9196 / 0.9173-43
As mentioned in the morning, Dollar-Swiss has strong trendline Resistance in the 0.9350-9400 region on the Weekly Candles. Take a look at the last chart on the following page:
The market has come off from a high of 0.9334 this week, falling to a low of 0.9202 yesterday. Intra-day Support is seen at 0.9185. The projected Max Low for the Day is 0.9173. Below that, there is Support near 0.9120-10 as well.
Essentially, therefore, the market is at a crucial crossroads. Either it will have to find the strength to rise past 0.9400 or it will have to break below 0.9100 in the medium term. If we give greater weightage to the Resistance on the Weekly chart, then the chances of an eventual break below 0.9100 would be greater.
GBP-USD @ 1.5731/35...Possibly bullish
R: 1.5750-65-75-85-95
S: 1.5698-90 / 1.5658-32
The Pound dipped to 1.5698, but has bounced well from there. Multi-layered Resistance is seen from 1.5750 to 1.5795. Failure to rise past 1.5765 could be bearish. On the other hand, a rise past 1.5795 would be very bullish.
That it has risen past the 200-MA on the 1-hr chart during the day is possibly quite bullish. Longs could be attempted, but the Stop would have to be below 1.5700-5690.
Limit Buy Order:
Buy GBP 10K at 1.5665, SL 1.5590, TP Open
AUD-USD @ 1.0534/37...Holding Long
R: 1.0547 / 1.0582-0603
S: 1.0510-00 / 1.0459
The Aussie is managing to remain above 1.0500 so far. But, it needs to rise past 1.0547 (200-MA on the 1-hr chart) in order to break onto higher ground. On the downside, break below 1.0500 can cause fall to 1.0460-50.
Holding:
AUD 10K Long at 1.0515, SL 1.0485 (up from 1.0460), TP Open
Happy Trading!
USD-CHF @ 0.9233/36...At crossroads
R: 0.9266 / 0.9298
S: 0.9202-9196 / 0.9173-43
As mentioned in the morning, Dollar-Swiss has strong trendline Resistance in the 0.9350-9400 region on the Weekly Candles. Take a look at the last chart on the following page:
The market has come off from a high of 0.9334 this week, falling to a low of 0.9202 yesterday. Intra-day Support is seen at 0.9185. The projected Max Low for the Day is 0.9173. Below that, there is Support near 0.9120-10 as well.
Essentially, therefore, the market is at a crucial crossroads. Either it will have to find the strength to rise past 0.9400 or it will have to break below 0.9100 in the medium term. If we give greater weightage to the Resistance on the Weekly chart, then the chances of an eventual break below 0.9100 would be greater.
GBP-USD @ 1.5731/35...Possibly bullish
R: 1.5750-65-75-85-95
S: 1.5698-90 / 1.5658-32
The Pound dipped to 1.5698, but has bounced well from there. Multi-layered Resistance is seen from 1.5750 to 1.5795. Failure to rise past 1.5765 could be bearish. On the other hand, a rise past 1.5795 would be very bullish.
That it has risen past the 200-MA on the 1-hr chart during the day is possibly quite bullish. Longs could be attempted, but the Stop would have to be below 1.5700-5690.
Limit Buy Order:
Buy GBP 10K at 1.5665, SL 1.5590, TP Open
AUD-USD @ 1.0534/37...Holding Long
R: 1.0547 / 1.0582-0603
S: 1.0510-00 / 1.0459
The Aussie is managing to remain above 1.0500 so far. But, it needs to rise past 1.0547 (200-MA on the 1-hr chart) in order to break onto higher ground. On the downside, break below 1.0500 can cause fall to 1.0460-50.
Holding:
AUD 10K Long at 1.0515, SL 1.0485 (up from 1.0460), TP Open
Happy Trading!
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