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[kshitij]

EURO, JAP YEN and EURO-YEN
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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 @ 1.2390/95...Chances of bullishness?
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R: 1.2410-20 / 1.2440 / 1.2456-60
S: 1.2360-50 / 1.2320 / 1.2293
USD-CHF dipped during the day to a low of 1.2338 but has again bounced back, only to find Resistance at 1.2410-20. While that holds, we could see a small dip towards 1.2375. If and when the Resistance at 1.2410-20 is broken, there could be a rally towards 1.2440 or 1.2456 (200-MA on 4-Hourly) over today or tomorrow, causing confusion for the current bearish bias for the week . Note the statistically projected Max High for the day is at 1.2420.

On the downside the Support is at 1.2360-50, the former being the 200-Day MA. If this Support is broken then there could be a fall towards 1.2320. Note the statistically projected Max Low for the day is at 1.2293. The bias for the day is neutral, but we are beginning to consider chances of the market turning bullish.


GBP-USD @ 1.9528/33...Buy a sharp dip
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R: 1.9550 / 1.9590-9600 / 1.9658
S: 1.9479 / 1.9440 / 1.9400
GBP-USD tried to rally during the day and hit a high of 1.9594. It then had a sharp fall and is back in middle of its trading range of 1.96009400. Now for today the Resistances are coming in at 1.9550 and then at 1.9590. The 200-MA on the 4-Hourly is at 1.9601. The statistically projected Max High on the daily is at 1.9658. On the downside the Support is at 1.9479 and then at 1.9440. The statistically projected Max Low on the daily is at 1.9458. We would like to buy the pair on a sharp dip, near the lower end of its trading range.

US CPI is scheduled to be declared later on in the day at 13:30 GMT. (See chart at http://www.kshitij.com/utilities/funcharts/uscpi.shtml)

Limit Buy Order:
Buy GBP 15K at 1.9427, SL 1.9350, TP 1.9517




AUD-USD @ 0.7890/95....TP on Long
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R: 0.7885-90 / 0.7909 / 0.7940
S: 0.7870 / 0.7850-40
AUD-USD has been very strong during the day and the pair is currently trading above an important trendline joining the Highs of 0.7982 (3-Jan) and 0.7941 (23-Jan) on the Daily Candles. But, it still faces Resistance at 0.7909, the statistically projected Max High for the day, where a trendline joining the Highs from 0.7773 (31-Jan) onwards on the Daily Candles also provides Resistance. THAT would have to break to allow the market to rise towards 0.7940 later on in the week. A cause for hope is that the strength in the AUD-USD is also being reflected in its crosses against EUR, GBP and JPY.

On the downside the Support for AUD-USD would come in at 0.7870 and then at 0.7850-40, with the latter unlikely to break. Note statistically projected Max Low for the day is at 0.7845. The bias for the pair is bullish but we are wary of the Resistance at 0.7904-09. Hence we prefer to take profit on our Long position.

Exit Trade:
TP at current level on AUD 20K Long entered at 0.7860.




Happy Trading!