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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 @ 1.2138/42…..Resistance at 1.2160
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R: 1.2160 / 1.2200
S: 1.2109 / 1.2090 / 1.2054
There has been a brief recovery in the $-Swiss during the day on back of little short covering. Now the pair is soon expected to find Resistance at 1.2160. If that is crossed, there could be a move towards its big Resistance at 1.2202, the 200-MA on the 4-Hourly. Note that the statistically projected Max High for the day is at 1.2204. On the downside the Support is coming in at 1.2109 (Low for the day so far). If that is broken (chances 60%), there could be a fall towards 1.2090. The statistically projected Max Low for the day is at 1.2054.
The bias for the pair is negative for the week, while the pair is closing below 1.2200 on a daily basis.



Cable @ 1.9723/28….Holding Long
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R: 1.9770 / 1.9800-15
S: 1.9700 / 1.9670-60 / 1.9615
The Cable has been consolidating during the day within 1.9700 – 40, possibly building a base for the next move higher. Now a break above 1.9740 would trigger that strength. If so, the pair could move towards 1.9770 and then at 1.9800. Note that the statistically projected Max High for the day is at 1.9815. On the downside the Support is at 1.9700. If that is broken, there could be a fall towards 1.9670-60, which was the breakout point yesterday on the trendline on the 4-Hourly, joining the highs of 1.9842 (03-Dec) and 1.9730 (13-Dec). The statistically projected Max Low for the day is at 1.9615. The bias for the day is bullish while the pair is above 1.9670. We are holding a long position.

Holding:
GBP 15K at 1.9742, SL 1.9670 (up from 1.9650), TP 1.9800

Order:
Buy GBP 15K at 1.9640, SL 1.9560, TP 1.9710



Aussie @ 0.7860/64……Buy a dip
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R: 0.7873 / 0.7900
S: 0.7840 / 0.7823 / 0.7805-00
The Aussie had a brief dip to a low of 0.7825 during the day but it has bounced back once again. With this the pair is starting to show good buying on dips. Currently the pair looks to be headed towards 0.7873, the statistically projected Max High for the day. If the pair moves above 0.7873 then there may be a rally towards 0.7900 over today or tomorrow. On the downside the Supports are coming in at 0.7840 and then at 0.7823 (low for the day so far). This is expected to hold. Now if that is broken (unlikely) then there could be a fall towards 0.7800. The statistically projected Max Low for the day is at 0.7805. The bias for the day (and the week) is bullish while the pair is closing above 0.7800.

Order:
Buy AUD 20K at 0.7830 (up from 0.7810), SL 0.7800 (up from 0.7780), TP open.






Happy Trading!