The Forex Thoughts of the day: 11-Jun-2012

The EURO, JAPANESE yen and EURO-YEN
---------------------------
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The following are our comments on the Dollar-Swiss franc, pound sterling and the Australian dollar
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USD-CHF @ 0.9508/11. BullishR: 0.9630/0.9690-700
s: 0.9530-00/0.9455-50
Dollar-Swiss opened up a gap down after New Spain. Now is trading just above 0.9500 fall further to support important to 0.9450 now looks likely. 0.9450 is the strong level of support which can accommodate very us. If the pair fail to break below 0.9450 and bounces back from then, there may be the beginning of a fresh Rally going forward. We will have to shed and see. The commonest 0.9690-9700 is an important region for the receiver and strong break above this region of resistance will open the door for further rally. 0.9950-1.0000 you can direct light on strong break above 0.9700. On the other hand 0.9450 is broken then the pair you can move down to 0.9400 or even lower.

The exchange of ideas for the week:
1) Buy int bounce support at 0.9450
GBP-USD @ 1.5563/66 ... Immediate outlook mixedR: 1.5600/1.5640
S: 1.5400/1.5340
The cable is to find good support near 1.5340 and the witnessed a sharp rise to 1.5600 last week. Although the strong pull back from 1.5600 late the week leaves the question of whether the couple can cause further vulnerabilities to open and growth today leaves a high chance sustaing higher. 1.5400 and 1.5340 are important supports to the observed on the downside and during their storage, there is no immediate risk to the downside. However, if a strong break below 1.5340 is seen then the couple may fall to 1.5200, which is a very strong level of support, which can hold up well and a good level of buy the cable. On the upside we see 1.5640 very strong resistance, which must be broken steam increases additional to 1.5750-800. Not the immediate exchange of ideas now, we will watch the market and enter the feed accordingly.
The exchange of ideas for the week:
1) Buy from zaniki to 1.5200, if

AUD-USD @ 0.9979/82 ... Important support 0.9800R: 1.0000/1.0070
S: 0.9950-40/0.9830-00/0.9700
Aussie saw a strong test parity last week following the good GDP and labour force the release, but it failed to extend his upmove above par. However, rose above the significant level of 0.9950 and continues to look strong. Support is seen near 0.9895 and strong support is seen near 0.9800 and when above 0.9800 is not imminent on the downside. Having said this we can now Aussie move well above parity increases to 1.0070 100 or even 1.0150-200. On the other hand if 0.9800 is discontinued then the pair will revise 0.9700-9600 to the downside. From now on, we do not have any specific trade ideas per week. We can watch as the market moves and will then take professional respectively.

FX Thoughts for the day : 24-May-2012

Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below

USD-CHF @ 0.9557/60...Can find Support in 0.9500-480 region R: 0.9600-20
S: 0.9550 / 0.9500-480

Dollar-Swiss saw an intraday high of 0.9595 and is coming off from its high now. The overall picture is still bullish and if the pull back move extends further, the pair could find good Support in 0.9500-480 region. Having said this, we do not see any threat on the downside and as we had mentioned in our Morning comments, the bigger picture is very much bullish and the upside is now open for a strong rally to 0.9900-1.0000.
GBP-USD @ 1.5684/87...Watch Resistance at 1.5700 R: 1.5700 / 1.5740-50 / 1.5800
S: 1.5620-00 / 1.5530-00

Cable fell to a low of 1.5639 and has bounced back from there. It needs to be see whether the pair manages to rise further and break above 1.5700 to extend its upmove in the coming sessions. A break above if seen will ease the downside pressure and can take the pair up to 1.5750-5800. Failure to rise past 1.5700 will keep the pair pressured on the downside and a fall once again to 1.5620-00 will be possible. A strong break below 1.5600 can see 1.5500 on the downside.


AUD-USD @ 0.9780/83...Immdeiate Resistance at 0.9800 R: 0.9800 / 0.9850-75
S: 0.9700 / 0.9660

Aussie is getting Support near 0.9700 and has risen above its Resistance at 0.9770. The pair now needs to break above 0.9800 to ease the downside threat further. A break above 0.9800 can take it up towards 0.9850-75. On the other hand a failure to rise past 0.9800 can keep the pair ranged between 0.9700 and 0.9800 for some time and it will also keep alive the chances of seeing the important Support at 0.9660 on the downside.

Happy Trading!

FX Thoughts for the day : 23-Mar-2012 - 1236 GMT

EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY
-------------------------------------------------------------

USD-CHF @ 0.9110/13...Mixed and ranged
R: 0.9140-50 / 0.9200
S: 0.9100-9080 / 0.9020-00
Dollar-Swiss fell sharply during the day to a low of 0.9067 and has bounced back above .9100 once again. The immediate outlook is mixed. Our view remains the same. We expect the pair to remain ranged between 0.9100-9080 on the downside and 0.9200-25 on the upside. A breakout this range would determine the further direction of move.
GBP-USD @ 1.5832/35...Resistance at 1.5900 holding well
R: 1.5900 / 1.6000
S: 1.5800 / 1.5750 / 1.5700
Cable failed once again to see a strong rise past 1.5900 and has come off from its high of 1.5909 during the day. Our view remains the same. We expect the pair to remain pressured on the downside. Also failure to see a strong rise past 1.5900 all through this week leaves a threat of seeing 1.5700-5600 on the downside in the coming sessions/days.

AUD-USD @ 1.0388/91...Overall picture still weak
R: 1.0400 / 1.0450 / 1.0500
S: 1.0350 / 1.0320-00
Aussie saw a high of 1.0450 during the day and has come off from there once again. Failure to extend and sustain the upmove strongly above 1.0400 leaves the overall picture weak and leaves high chances of seeing 1.0330-00 once again on the downside. As mentioned in the morning, the downside is even open for a test of 1.0200 on the monthly charts.
Happy Trading!

FX thoughts for the day: March 21 2012-1237 GMT

EURO-YEN, EURO, and YEN JAP

Swiss dollars, pounds sterling and the Australian dollar are given below.
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USD-CHF @ 0.9105/08...Resistance 0.9115-35 region.
R: 0.9115-35 / 0.9180-200
S: 0.9080/0.9020-00

Dollar-Swiss gets support in the vicinity of 0.9080 and has now risen now just above 0.9100. However, as mentioned in our morning comments, there is resistance 0.9115-35 region. We expect that this resistance to keep region and a train back to see again. A strong break under 0.9080 would fall further cause to 0.9020-00. On the other hand, if a break up is 0.9135 which may then increase pair 0.9180-200. We have to wait and see.

Holding:
$ 10 K shortly at 0.9121, SL 0.9135, TP 0.9020
Bring, as soon as the market is 0.9070 0.9110 trail SL after and as fast as the market 0.9055 to is TSL further on 0.9105

$ 10 K short in 0.9150, TSL 0.9125, TP 0.9020.
Bring TSL as soon as the market is 0.9070 Brig TSL on 0.9110 and as fast as the market 0.9055 to is further up 0.9090
 
 
GBP-USD @ 1.5855/58...Outlook still not clear. Stay way
R: 1.5900 / 1.6000
1.5820-00/1.5750 S:

Data show an unexpected increase in public borrowing and two show the BOE Protocol of meeting Member States vote for more, quantitative easing triggered a sharp fall in the cable during the day. Our view remains the same. The Outlook is unclear and keeps the couple between 1, 5800-900. We have to wait to get clear idea about the further direction of the movement 5800-900 sideways area until an outbreak of this 1. After this said we prefer continue to stay out of the market.

AUD-USD @ 1.0468/71...Can test 1.0400
R: 1.0500-20 / 1.0550 / 1.0600
S: 1.0400-390 / 1.0350 / 1.0300

Aussie has fallen as expected further and is in our view test 1.0400 on the other hand hold. What happens after the test of the 1.0400 are important are observed. The further direction of motion determine whether 1.0400 stops or breaks. We have to wait and see what happens.

Happy trading!

 

FX Thoughts for the day : 16-Mar-2012 - 1231 GMT

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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!

FX Thoughts for the day : 06-Mar-2012 - 1204 GMT

EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY
Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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USD-CHF @ 0.9175/78...Trading above 0.9150
R: 0.9184-90 / 0.9230
S: 0.9150-35-20-10 / 0.9084
Dollar-Swiss has risen past 0.9150. It may now rise to 0.9200 and 0.9230. If it manages to remain above 0.9200-9150 thereafter the trend could change and there could be chances of a further rise towards 0.9400 later in the month.

GBP-USD @ 1.5770/75...Testing Support
R: 1.5805-10 / 1.5830-40
S: 1.5781-63 / 1.5728-18
The Pound has fallen a decent bit today to test the 200-MA on the 4-hour chart (1.5772). Whether this will hold/ break will set the trend for the rest of the month. While the Support holds, there can be chances of a bounce towards 1.5840 or even 1.5900. In case the Support breaks, a further decline towards 1.5700 will be seen.
Holding:
GBP 10K Long at 1.5800, SL 1.5745, TP 1.5950.


AUD-USD @ 1.0592/95...Watch Suppor at 1.0575
R: 1.0635-60 / 1.0687
S: 1.0575 / 1.0525 / 1.0474
The Aussie is trading just below 1.0600. A low of 1.0573 has been seen so far today. In the morning we had kept 1.0600-0575 as the Support region to be watched. In case of clear break below 1.0575, the Aussie could fall towards 1.0500-0400.
Happy Trading!

FX Thoughts for the day : 02-Mar-2012 - 1216 GMT

EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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USD-CHF @ 0.9096/99...21-DMA Resistance at 0.9114
R: 0.9114 / 0.9150-70
S: 0.9050 / 0.9020-00
Dollar-Swiss has risen further as expected. The 21-DMA (currently at 0.9114) will now be an important Resistance to be watched and a break above this Resistance can take it further up towards 0.9150-70. On the other hand if the 21-DMA Resistance holds, then a pull back to 0.9050-30 is possible in the US session today. We will have to wait and see.

Exit Trade (at the time of writing):
Exit (SL) at current level, the USD 10K Short entered at 0.9040
GBP-USD @ 1.5920/23...Ranged
R: 1.6000 / 1.6100
S: 1.5900 / 1.5800 / 1.5750
Cable is trading higher but ranged between 1.5900-6000 over the last couple of days. While above 1.5900, there is no immediate threat on the downside and we expect further rise to 1.6100 in the coming sessions. only a strong break below 1.5900 will bring in downside pressue for the pair and can pull it down to 1.5800-5750.

AUD-USD @ 1.0785/88...Bullish
R: 1.0800 / 1.0850 / 1.0930-50
S: 1.0732 / 1.0700
Aussie is not showing much downside momentum. Our view remains the same. The 21-DMA (currently at 1.0732) Support is holding well which is restricting Aussie from futher fall and is keeping up the broader bullish sentiment intact. While above 1.0700, the upside is open for an immediate test of 1.0930-50. A break below 1.0700, if seen can take the pair down to 1.0600.

Happy Trading!

FX Thoughts for the day : 15-Feb-2012 - 1228 GMT

EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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USD-CHF @ 0.9175/78...Ranged
R: 0.9185-200 / 0.9250-60
S: 0.9120-00 / 0.9060

Dollar-Swiss remains silent. The broader 0.9100-9250 sideways range remains intact. While below 0.9200, a test of 0.9120-00 on the downside is possible. A break below 0.9100 can take it further down towards 0.9060. The rally failed to extend to trigger our Limit Buy order. However, will still wait sell only near the upper of the range.

Limit Sell Order:
Sell USD 10K at 0.9250, SL 0.9330, TP 0.9065

GBP-USD @ 1.5706/09...100-DMA Support holding well
R: 1.5750-60 / 1.5780 / 1.5800
S: 1.5677 / 1.5650-40 / 1.5600

Cable fell to a low of 1.5675 during the day and has bounced back once again. Technically the 100-DMA (currently at 1.5677) has held very well. It will have to be seen whether the pair can sustain well above 1.5700 or not. A break below the 100-DMA can take it down once again to its important 1.5650-40 Support region and this time the chances of seeing a break below the 1.5650-40 would be high as the pair had failed to sustain above 1.5700. This break below 1.5640 if seen can drag the pair further down to 1.5600 or even 1.5550. We will have to wait and see what happens.

We booked a profit of 35 pips from the Long position entered at 1.5650.

 
AUD-USD @ 1.0760/63...Resistance at 1.0780 holding
R: 1.0780 / 1.0825
S: 1.0700-680 / 1.0639

The Resistance at 1.0780 mentioned in our Morning comments is holding well and is restricting the pair from further rise. While below 1.0780, a pull back to 1.0700-680 is possible now. The overall picture is bullish and the pair might continue to trade above 1.0700, but the pair needs to see a strong rise past 1.0780 for further rally. we will have to wait and see what happens. the 21-DMA (currently at 1.0639) is the important Support level seen below 1.0680. Dips to this 21-DMA can be bought.

Limit Buy Order:
Buy AUD 10k at 1.0650, SL 1.0570, TP 1.0880

Happy Trading!

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FX Thoughts for the day : 16-Feb-2012 - 1215 GMT

EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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USD-CHF @ 0.9284/87...Watch Resistance near 0.9300
R: 0.9300-10 / 0.9350
S: 0.9250 / 0.9220-00

Dollar-Swiss is continuing to trade just above its 21-Month-MA Resistance (0.9266). It will have to be seen whether it can sustain above 0.9250 or not. If it continues to trade above 0.9250 and gains upside momentum, then futher rise to 0.9300-20 can be seen. The pair has been rising well over the last few days and as such a pull back from current levels might not show much strength. 0.9220-00 is a very good Support region now which could be tested if pull back is seen from current levels. Only a strong break below 0.9200 will now bring back the downside pressure.

Holding:
USD 10K Short at 0.9250, SL 0.9315, TP 0.9065
 GBP-USD @ 1.5676/79...Trading flat
R: 1.5700-20 / 1.5750 / 1.5800
S: 1.5640 / 1.5600

Cable remains flat with no movement in between 1.5660-5700. With no movement since the morning, our view remains the same. The important Support near 1.5640 will be a key level to be watched. Whether this Support holds or breaks will determine the further direction of move. We will have wait and see what happens. A strong break below 1.5640 can take it down towards 1.5600-5550.

 
 AUD-USD @ 1.0674/77...Can break below the 21-DMA Support?
R: 1.0680-700 / 1.0750 / 1.0825
S: 1.0648 / 1.0600-580

The 21-DMA (1.0648) is holding well, but the Aussie is not gaining upside momentum to strongly rise past 1.0700. This leaves the pair pressured on the downside and while below 1.0700 there could be chances of seeing break below the 21-DMA which can take it down to 1.0600-580 which is an important Support region seen below the 21-DMA. We expect a fresh bounce from this 1.0600-580 Support region.

Limit Buy Order:
Buy AUD 10k at 1.0580, SL 1.0510, TP 1.0880

Happy Trading!

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FX Thoughts for the day : 13-Feb-2012 - 0638 GMT

EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
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USD-CHF @ 0.9133/36...Ranged with bearish bias
R: 0.9200 / 0.9250-60
S: 0.9110 / 0.9075-58
Dollar-Swiss is continuing to find Resistance near 0.9250. The 21-Month-MA (currently at 0.9261) held well last week. However, the break below 0.9100 did not extend strongly further on the downside and the pair bounced back sharply from its low of 0.9089. On the downside 0.9058 will be an important Support level to be watched for the week. The pair needs to see a strong break below this Support for further downmove to happen. Last two weeks candles are suggesting sideways move for the pair. However, the monthly and the weekly charts on the whole are still looking week broadly and a strong break below 0.9058 could trigger further sharp fall to 0.8900-8850.
Limit Sell Order:
Sell USD 10K at 0.9250, SL 0.9330, TP 0.9065
Trade ideas for the week:
1) Sell on a break below 0.9058.


GBP-USD @ 1.5785/88...Good Support in 1.5700-5650 region
R: 1.5800 / 1.5929
S: 1.5700-5978 / 1.5650
Cable tested its 200-DMA Resistance (currently at 1.5924) and has come off sharply from its high of 1.5929 last week. There is good Support near 1.5700 and then significant Supports seen at 1.5678 (21-Week-MA) and then at 1.5642 on the monthly chart. Having said this the current downmove can extend further to 1.5650 this week if it fails to rise past the immediate Resistance at 1.5800. The chances of further fall below 1.5650 will have to be seen. We expect this Support at 1.5642 to hold in its first test and a bounce back to 1.5750-5800 is possible from there. Also the bounce back move can extend further to test the 200-DMA Resistance once again. 1.5800 will be an important level to be watched for. A strong rise past this level is now needed to ease the downside pressure and a failure to break above this Resistance would increase the downside pressure on the pair.
Limit Buy Order:
Buy GBP 10K at 1.5655, SL 1.5575, TP 1.5780


AUD-USD @ 1.0737/40...Support at 1.0600-580
R: 1.0700 / 1.0735-50 / 1.0800-25
S: 1.0600-580 / 1.0550 / 1.0500
Aussie saw an intraweek break above its important 1.0735-50 Resistance region following the surprise move by the RBA to leave the rates unchaged against the market expectation for a 25bps cut. But, however, it failed to see a strong rise past 1.0800 and fell sharply from its high of 1.0844. Now it has bounced back well above 1.0700 once again easing the downside pressure. Immediate Resistance is seen a 1.0770 and a failure to rise past this Resistance could keep the pair pressured on the downside adn the downmove can extend further towards 1.0600-580 on a break below the immediate Support in 1.0700-680 region. Note that the 21-DMA Support is currently at 1.0604. We expect a bounce back from this near 1.0600. On the other hand, if a strong break below the 21-DMA is seen during the week, then the downmove can extend further to 1.0550-00. We will have to wait and see.
Trade ideas for the week:
1) Watch 1.0600-580 Support region and buy into the bounce.


 

FX thoughts for the day: 2 February 2012-1234 GMT

EURO-YEN, EURO and YEN JAP
---------------------------
Read our latest comments and recommendations trading in USD-JPY, EUR USD and EUR-JPY by registering at
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Our comments to Swiss dollars, pounds sterling and the Australian dollar are given below.
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USD-CHF @ 0.9195/98...Resistance region 0.9225-50
R: 0.9225-50 / 0.9300 / 0.9350
S: 0.9150 / 0.9050 / 0.9000
Rise against our expectations dollar-Swiss strongly in the course of the day. It is now trading about 0.9200. Resistance 0.9225 50 region, is considered the top verschiebenNach further to 0.9300 50 to extend must be broken. As we where for some time, a strong rise over at 0.9350 wipe the drawback of pressure must be seen. Until then, the downside for a test of the 0.9100-9050-9000 is still open.

GBP-USD @ 1.5823/26...Bullish
R: 1.5880 / 1.5948 / 1, 6000-30
S: 1, 5800-5770/1.5720-00
Although cable has come way from its high of 1.5882, we watch not much force in his move back. This retains strength upside risks. The bullish view for a test of 200-DMA (1.5948) is preserved and as mentioned in our morning comments, the head is open for a test of 1 6000-30. We see good support at 1, 5800-5770 region.


AUD-USD @ 1.0693/96...Buy dips
R: 1.0735-50
S: 1.0650-30 / 1.0600 / 1.0570-50
The opposition holds well 1.0735-50 region and Aussie has plunged nearly 1,0700. This pull back can move further on 1.0650 30 if not bounce back above 1,0700 in the US session today expanding. Strong support is now 1.0600 570 region through this support region there no immediate danger on the other hand is seen. He said that this dives to 1.0600-570, if seen can be purchased.
Happy trading!

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FX Thoughts for the day : 27-Jan-2012 - 1219 GMT

EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
-------------------------------------------------------------

USD-CHF @ 0.9191/64...Can revisit 0.9150
R: 0.9200-25 / 0.9280-300
S: 0.9150 / 0.9100 / 0.9050

Dollar-Swiss has dipped below 0.9200 and keeping up the chances of revisiting 0.9150 as we had expected in the morning. Also as we had mentioned in our morning comments, the chances of the downmove extending further below 0.9150 towards 0.9100-9050. But it needs to sustain below 0.9200 for this. We will have to wait and see what happens. We are staying out of the market.
GBP-USD @ 1.5703/06...Resistance in 1.5710-25 region holding
R: 1.5710-25 / 1.5770-800
S: 1.5675-50 / 1.5600 / 1.5550

Cable has risen above 1.5700. However, it is not gaining upside momentum to extend its upmove strongly above 1.5700. The Resistance in 1.5710-25 region mentioned in our Morning comments is holding well. Failure to rise past 1.5725 will keep up the chances of testing 1.5600 or even 1.5500 on the downside. We continue to retain our short position.

Holding:
GBP 10K Short at 1.5680, SL 1.5735 (down from 1.5770), TP 1.5520

 
 AUD-USD @ 1.0657/60...Bullish
R: 1.0700 / 1.0750
S: 1.0620-00 / 1.0520-00

Aussie is contiuing to trade above 1.0600 and is keeping up our Bullish view intact for a test of 1.0700-50 on the upside. Only a strong break below 1.0600 will trigger further fall. A break below 1.0600 if seen can drag it down to 1.0520-00 in the coming sessions. Fresh buying can be seen in 1.0520-00 levels.

Happy Trading!

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FX Thoughts for the day : 25-Jan-2012 - 1306 GMT

EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at
http://www.kshitij.com/fxthoughts/fxthoughts.shtml#register

Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
-------------------------------------------------------------
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

Daily Forex Market News
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FX Thoughts for the day : 30-Jan-2012 - 0607 GMT

EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
-------------------------------------------------------------

USD-CHF @ 0.9149/52...Can fall further.
R: 0.9151 / 0.9196 / 0.9300
S: 0.9075-50 / 0.9000 / 0.8950

Dollar-Swiss fell sharply breaking below its important Support at 0.9300 and has closed below the 100-DMA (0.9154) last week. There is Support near 0.9075-50 region which includes the 50% Fibonacci retracement level of the rise from 0.8567 (Oct-11) to 0.9584 (Jan-12). But the downside is open for a further fall to 0.9000-8900 or even lower. However, the market has started speculating for the SNB to intervene at any time. Having said this there are chances for the downside to be limited. We will have to wait and see. On the upside 0.9300-50 will be an important Resistance region to be watched and a strong rise past this Resistance will have to be seen to ease the downside pressure. As of now we do not have any immediate trade ideas on the pair. We will watch how the pair moves for a few sessions and then take trade calls accordingly.

GBP-USD @ 1.5709/12...Can it rise to 1.6000?
R: 1.5733 / 1.5800-20 / 1.5900
S: 1.5600 / 1.5520-00

Cable has seen a strong close for the second consecutive week. On the weekly chart the upside now looks open for a test of 1.6000-50 with strong Supports at 1.5600 and then in 1.5520-00 region. However, there are significant Resistances coming up now at 1.5738 (100-Week-MA), 1.5800-20 region on the monthly chart that includes the 21-Month-MA (1.5820). Having said this there could be chances of seeing a pull back from this 100-Week-MA Resistance itself or from the 1.5800-20 Resistance region. We can take short positions if a pull back is seen from this 1.5800-20 Resistance region, but need to be cautious. On the downside 1.5520-00 is a strong Support region and a strong break below this Support region will have to be seen now for the pair to get downside pressure. As of now we do not have any specific trade ideas and we will watch the market and take trades accordingly.

We got stopped out of the Short position entered at 1.5680 losing 55 pips.

 
AUD-USD @ 1.0583/86...Big picture is very Bullish
R: 1.0735-50
S: 1.0600 / 1.0500 / 1.0425

Aussie continued to trade above 1.0400 and has seen a strong rise last week. The outlook is bullish and 1.0735-50 will now be an important Resistance region to be watched for. It has dipped below 1.0600 today and we see chances of a pull back to 1.0500-450. On the other hand a strong break above 1.0750 will be very bullish and it can take it up to much higher levels in the coming weeks. We have some important observations on the chart. Two wedges seen on the chart. We take the weekly candle chart to illustrate this observation.

Wedge 1: Wedge formed by joining the highs of 1.1065 (Aug-11) and 1.0753 (Oct-11) and the lows of 0.9387 (Oct-11) and 0.9663 (Nov-11). A bullish breakout of this wedge 1 has already happend and a bounce back from the last week's low 1.0427 has given a confirmation signal for this bullish breakout. Having said this the upside breakout of this pattern wil be 1.1900.

Wedge 2: Wedge formed by joining the highs of 1.0764 (Aug-11) and 1.0753 (Oct-11) and the lows of 0.9387 (Oct-11) and 0.9663 (Nov-11). This wedge is yet to see a break out. The wedge Resistance is coming in 1.0735-50 region. Having said this a strong break above 1.0750 will be a bullish breakout of this Wedge 2 and the target of this wedge would be 1.2100.

Overall 1.0735-50 will now be a key Resistance region to be watched and in the bigger picture we remain bullish on the pair. Having said this we will be looking to enter longs if a pull back happens from the 1.0735-50 region.

Limit Buy Order:
Buy AUD 10K at 1.0470, SL 1.0380, TP 1.0735
Buy AUD 10K at 1.0430, SL 1.0360, TP Open

Happy Trading!

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."

 

FX Thoughts for the day : 31-Jan-2012 - 1243 GMT

AppId is over the quota
AppId is over the quota

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EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at
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Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
-------------------------------------------------------------

USD-CHF @ 0.9134/37...Stay out
R: 0.9170 / 0.9200-25 / 0.9300
S: 0.9100-0.9075 / 0.9050 / 0.9000

Dollar-Swiss remains lower and flat. Important to note is that pair failed to rise past the 100-DMA Resistance level (0.9158) during the which leaves it pressured on the downside. A further dip to 0.9100-9075-9050 is possible now. We will have to wait and see. On the upside, 0.9200-25 will be a significant Resistance region which needs to be broken to ease the downside pressure. Also remember, in a bigger picture, the pair needs to break above 0.9300-50 to wipe out the downside pressure. The immediate outlook still continues to be mixed and we see 50-50 chances of moving on either side from current levels. Having said this we continue to stay out of the market for a while.
GBP-USD @ 1.5782/85...Watch important Resistance in 1.5800-20 region
R: 1.5800-20
S: 1.5730-00 / 1.5650 / 1.5600

Cable has risen during the day as expected and is nearing its important 1.5800-20 Resistance region. This will be very significant to be watched, since on the weekly chart the upside now looks open for a test of 1.6000-50. A strong rise past 1.5820 would trigger this rise. We will have to wait and see.

We booked a profit of 20 pips from the Long position entered at 1.5735.

 
AUD-USD @ 1.0654/57...Bullish
R: 1.0680-700 / 1.0735-50
S: 1.0600-570 / 1.5325-00

Aussie has risen further and is keeping up the bullish view intact. Our view remains the same. A rise to 1.0735-50 looks likely now. As mentioned in our weekly view, the long term outlook is very bullish and a strong break/clsoe above 1.0750 can take the pair up toward 1.19-21 going forward.

Limit Buy Order:
Buy AUD 10K at 1.0575, SL 1.0475, TP 1.0735
Buy AUD 10K at 1.0535, SL 1.0460, TP Open

Happy Trading!

Daily Forex Market News
Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

Forex News
Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."

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FX Thoughts for the day : 27-Jan-2012 - 1219 GMT

EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at
http://www.kshitij.com/fxthoughts/fxthoughts.shtml#register
Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
-------------------------------------------------------------

USD-CHF @ 0.9191/64...Can revisit 0.9150
R: 0.9200-25 / 0.9280-300
S: 0.9150 / 0.9100 / 0.9050
Dollar-Swiss has dipped below 0.9200 and keeping up the chances of revisiting 0.9150 as we had expected in the morning. Also as we had mentioned in our morning comments, the chances of the downmove extending further below 0.9150 towards 0.9100-9050. But it needs to sustain below 0.9200 for this. We will have to wait and see what happens. We are staying out of the market.
GBP-USD @ 1.5703/06...Resistance in 1.5710-25 region holding
R: 1.5710-25 / 1.5770-800
S: 1.5675-50 / 1.5600 / 1.5550
Cable has risen above 1.5700. However, it is not gaining upside momentum to extend its upmove strongly above 1.5700. The Resistance in 1.5710-25 region mentioned in our Morning comments is holding well. Failure to rise past 1.5725 will keep up the chances of testing 1.5600 or even 1.5500 on the downside. We continue to retain our short position.
Holding:
GBP 10K Short at 1.5680, SL 1.5735 (down from 1.5770), TP 1.5520


 AUD-USD @ 1.0657/60...Bullish
R: 1.0700 / 1.0750
S: 1.0620-00 / 1.0520-00
Aussie is contiuing to trade above 1.0600 and is keeping up our Bullish view intact for a test of 1.0700-50 on the upside. Only a strong break below 1.0600 will trigger further fall. A break below 1.0600 if seen can drag it down to 1.0520-00 in the coming sessions. Fresh buying can be seen in 1.0520-00 levels.
Happy Trading!

FX Thoughts for the day : 25-Jan-2012 - 1306 GMT

EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at
http://www.kshitij.com/fxthoughts/fxthoughts.shtml#register
Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
-------------------------------------------------------------
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.

FX Thoughts for the day : 27-Jan-2012 - 1219 GMT

EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at
http://www.kshitij.com/fxthoughts/fxthoughts.shtml#register
Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
-------------------------------------------------------------

USD-CHF @ 0.9191/64...Can revisit 0.9150
R: 0.9200-25 / 0.9280-300
S: 0.9150 / 0.9100 / 0.9050
Dollar-Swiss has dipped below 0.9200 and keeping up the chances of revisiting 0.9150 as we had expected in the morning. Also as we had mentioned in our morning comments, the chances of the downmove extending further below 0.9150 towards 0.9100-9050. But it needs to sustain below 0.9200 for this. We will have to wait and see what happens. We are staying out of the market.
GBP-USD @ 1.5703/06...Resistance in 1.5710-25 region holding
R: 1.5710-25 / 1.5770-800
S: 1.5675-50 / 1.5600 / 1.5550
Cable has risen above 1.5700. However, it is not gaining upside momentum to extend its upmove strongly above 1.5700. The Resistance in 1.5710-25 region mentioned in our Morning comments is holding well. Failure to rise past 1.5725 will keep up the chances of testing 1.5600 or even 1.5500 on the downside. We continue to retain our short position.
Holding:
GBP 10K Short at 1.5680, SL 1.5735 (down from 1.5770), TP 1.5520


 AUD-USD @ 1.0657/60...Bullish
R: 1.0700 / 1.0750
S: 1.0620-00 / 1.0520-00
Aussie is contiuing to trade above 1.0600 and is keeping up our Bullish view intact for a test of 1.0700-50 on the upside. Only a strong break below 1.0600 will trigger further fall. A break below 1.0600 if seen can drag it down to 1.0520-00 in the coming sessions. Fresh buying can be seen in 1.0520-00 levels.
Happy Trading!

FX Thoughts for the day : 25-Jan-2012 - 1306 GMT

EURO, JAP YEN and EURO-YEN
---------------------------
Read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY by registering at
http://www.kshitij.com/fxthoughts/fxthoughts.shtml#register
Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below
-------------------------------------------------------------
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.