MoneyTec 2.0 - Online Forex Traders & Brokers Social Networking Community » Trading Talk » General Trading Forum

[kshitij]

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/fx...shtml#register

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


$-Swiss @ 1.2441/46....Watching
-------------------------------
R: 1.2467 / 1.2519-25
S: 1.2421 / 1.2382-78 / 1.2368-57
As it turns out, $-Swiss remained well below 1.2519-25 (the Resistance mentioned in the morning) and has dipped during the day to a low of 1.2421. Should there be a break below 1.2421 now, there could be a decline to 1.2382 which falls on the trendline on the 4-Hourly, joining the lows of 1.2016 (05-June-06) and 1.2316 (22-June-06).

On the upside the Resistances are coming in at 1.2467 and then at 1.2519-25, which falls on a trendline on the daily joining the highs of 1.3197 (24-March-06) and 1.3138 (03-April-06). In addition this area is of significant importance on the monthly charts.

No trades. Watching to see how the market pans out today.


Cable @ 1.8196/8201....Finding Support now
----------------------------------------
R: 1.8250 / 1.8285 / 1.8315
S: 1.8180 / 1.8127
The Cable rallied to a high of 1.8250, but has come off again from there. On the downside there is a critical Support at 1.8180-75 on the monthly charts AND the 4-Hour charts. The previous Low of 1.8127 provides further Support. While these Supports hold, there are chances of a rise past 1.8250, to target 1.8285. The Cable may be sold either near 1.8285 on intra-day basis or on a fall below 1.8127.




Aussie @ 0.7318/23...Sell afresh below 0.7300
------------------------------------------
R: 0.7328 / 0.7351 / 0.7362
S: 0.7300 / 0.7252
Despite repeated attempts on Friday and early today to break below 0.7300, the Support has held. Now if that level is broken then there could be a sharp fall to 0.7252 later on in the day, which is its statistically projected Max Low on the daily. Before that, there is Support at 0.7288, which falls on a trendline on the daily, joining the lows of 0.7461 (22-May-06) and 0.7346 (14-June-06)

On the upside the Resistances are coming in at 0.7328 and then at 0.7351. If these are crossed then the significant trendline on the 4-Hourly, joining the highs of 0.7548 (05-June-06), 0.7501 (12-June-06) and 0.7413 (22-June-06) at 0.7400 may also be tested. Intraday we would recommend selling on a break below 0.7300 with a stop at 0.7320.




Happy Trading!