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[kshitij]

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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$-Swiss @ 1.2450/55...Bearish bias immediately
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R: 1.2471-81 / 1.2530
S: 1.2445-40 / 1.2400 / 1.2371
$-Swiss has been weak during the day, after the sharp upmove last week. Currently there are chances of it dipping a further to test Support at 1.2417. A fall below that (if seen) could test the statistically projected Max Low for the day at 1.2389 and the 200-MA on the daily is at 1.2371. On the upside, we see Resistance at 1.2471-81. If that is crossed then there could be a rally towards Friday’s high of 1.2530.


Cable @ 1.9659/64....Holding Long
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R: 1.9670 / 1.9700-12 / 1.9730-35
S: 1.9620 / 1.9580
The Cable had a sharp upmove during the day to a high of 1.9666 and missed the TP on our Long by 4 pips. Currently the bias for the pair remains bullish while the market remains above 1.9600. Resistances are at 1.9670 and 1.9700. The statistically projected Max High for the day is at 1.9712. On the downside the Supports are coming in at 1.9620 and then at 1.9580. We are holding a long position.

Holding:
GBP15K Long at 1.9611, SL 1.9590 (up from 1.9450), TP 1.9670.




Aussie @ 0.7843/7....Consider buying dip
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R: 0.7862 / 0.7887
S: 0.7840-30 / 0.7810-03
The Aussie has remained in a narrow range near 0.7860-40 during the day, importantly holding above 0.7830-40. While the pair maintains above that the bias for the day remains bullish. Now an intraday break below 0.7840-30 could trigger a decline towards 0.7810-03, the statistically Max Low for the day.
On the upside the immediate Resistances are coming in at 0.7862, the high for the day so far. Above that the Resistance is coming in at 0.7887, the statistically projected Max High. Buying on a dip to 0.7810-00 might be worthwhile.




Happy Trading!