FX Thoughts for the Day

EURO JAP YEN EURO-YEN

Register to 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.

Registering entitles you to a 1-month Free Trial of our full service including Morning Edition, Intra-Day Alerts and access to restricted areas. To register click here.

USD-CHF @ 1.0733/37...Immediate Support at 1.07

R: 1.0790-1.0810 / 1.0880 / 1.0940 S: 1.0700 / 1.0630-00 / 1.0540 Swiss continued to trade below the Resistance in 1.0790-1.0810 region and the Support at 1.07 was tested during the day as expected. It has risen slightly from the low of 1.07. As mentioned earlier, a break below 1.07 might see a downmove towards 10630-00 in the US session today. We might see a bounce back from 1.0630-00 once again towards 1.0800 in the coming sessions/days. On the other hand, if the immediate Support at 1.07 continue to hold, we may see a break above the Resistance in 1.0790-1.0810 region and see a rise towards 1.0880 (21-Month-MA). Remember, the 50% retracement level of the fall from 1.1965 (09-Mar-09) to 0.9916 (23-Nov-09) is at 1.0940. Limit Buy Order: Buy USD 10K at 1.0620, SL 1.0530. TP 1.0880

GBP-USD @ 1.5573/77...Important Support zone 1.5580-5500

R: 1.5619 / 1.5667-89 / 1.5763 S: 1.5510-5485 / 1.5251 The Cable rose towards 1.5625 during the day and has fallen back once again as attempts to break above have been met with strong selling. However, on the downside we fell that the Support at 1.5580-5500 mentioned in the morning would continue to prop the pair from a further fall at the moment. If it is able to find a surface here, the pair may rise towards 1.5750 over the course of the week. This does not however negate the bearish view on Cable which is signalled by the double top formation on the weekly candles. The Projected Max High and Low for the day is at 1.5689 and 1.5485 respectively.

AUD-USD @ 0.8674/78...Might test the 200-DMA once again

R: 0.8700 / 0.8740 / 0.8870 S: 0.8584 / 0.8510 / 0.8470 AUssie failed in its attempt made to break and move up further above 0.8700 and is trading in between 0.8650-0.8700. As no significant move on either side was not seen during the day, our view remains the same on the pair. The 8-DMA (0.8766) is the significant Resistance to be watched for on the upside which we expect to hold in the US session today if a strong upmove breaking above 0.8700 is seen. Failure to see a strong break above 0.87 during the day is retaining the downside pressure and as mentioned earlier we might expect a break below the 200-DMA (0.8583) and see a downmove towards 0.8470-50 in the coming days/weeks. Limit Sell Order: Sell AUD 10K @ 0.8720, SL 0.8810, TP 0.8480 Happy Trading!

Subscribe now

We have a Morning Edition as well. Would you like to recieve both the editions via E-Mail or read them online? If so, you can register for a 1 month, "No Obligation" Free Trial by filling out the small Regestration Form below.

(Required fields are marked in Blue) Name Designation Email Company Website URL Postal Address Please provide full address. Improper address will be rejected. Country Phone No. country code city code phone no. Username (8,Alphanumeric) Password (8,Alphanumeric) Re-type Password How did you hear about us? Through a search engine From a friend From Forex Directory From FXStreet.com From Moneytec.com From Globalview.com From Forexfactory.com Would you like to be contacted by Gcitrading HY Markets Enter the code shown (This helps prevent automated registrations.) * Please enter correct details. Incorrect/ invalid/ incomplete entries will not be entertained. If you are apprehensive, please read our Privacy Policy * Please allow 12-18 hours to process your Registration Request. Go Top

Why you should register There is continuity between Morning and Evening editions. You receive the report via E-mail, at least 10 minutes before the website gets updated. Sometimes Intra-day Alerts are sent, only via E-mail. You gain access to restricted areas such as At a Glance. Subscription Details Free Gifts On Subscription An Excel based "FX Trade Planner". Using historical daily volatility measures in the major currencies, this tool helps a Trader plan and budget her monthly P/L. Testimonials Schedule and timings Published between 0530-0600 GMT and 1200-1230 GMT from Monday to Friday.

WARNING !!
Visitors should be aware that Foreign Exchange transactions and trading are or can be subject to laws, rules and regulations of the country in which the entity undertaking the transactions is situated. It is incumbent upon the Visitors to keep themselves informed and abreast of the Laws they are (or would be expected to be) subject to and governed by, and act in accordance thereto.