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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 @ 1.2576/81...Buying some
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R: 1.2604 / 1.2640 / 1.2656
S: 1.2560 / 1.2520
$-Swiss fell to a low of 1.2561, the 200-MA on the 4-hourly and just below the projected Max Low of 1.2569, during the day and has bounced subsequently. Currently it is trading near the 200- Day MA at 1.2574. Thus, we have a decent Support region between 1.2574-60. A break below that has chances of only 30-35%. If that happens, a fall towards 1.2520 may be seen. On the upside the Resistance is at 1.2604 and then at 1.2640. The statistically projected Max High for the day is at 1.2656. We would like to buy some now

Trade:
Buy $25K at current level, SL 1.2555, TP 1.2650. As soon as the market trades 1.2620 hereafter, bring SL up to 1.2565


Cable @ 1.8848/53....Bullish while above 1.8810-00
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R: 1.8862 / 1.8878
S: 1.8826 / 1.8800 / 1.8773 / 1.8737
Continuing with its 2-day upmove, the Cable hit a high of 1.8853 during the day. It is holding onto its gains and could move up further later on in the day. If so, it may test 1.8862 and then 1.8878, which is the statistically projected Max High for the day. On the downside the Supports are coming in at 1.8826, at 1.8800 and then at 1.8773. The statistically projected Max Low for the day is coming in at 1.8737.

The pair could be a buy on a dip to 1.8810 with Stop below 1.8775. This is so because IN CASE of a fall below 1.8775, we could see 1.8740 and 1.8700 being traded again.




Aussie @ 0.7618/23....Buy dip
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R: 0.7654 / 0.7675
S: 0.7600 / 0.7580
Continuing with the early morning rise, the Aussie hit a high of 0.7641. It has been consolidating near 0.7620-40 since then. Now on the upside the Resistance for the pair is coming in at 0.7654, which is the statistically projected Max High for the day. Above this the Resistance is at 0.7675, coming in on the trendline on the 4-Hourly, joining the highs of 0.7533 (13-Oct) and 0.7602 (19-Oct). On the downside the Supports are coming in at 0.7600 and then at 0.7580.

A Long may be considered on dip to 0.7600 with, Stop below 0.7560 as a 2-3 day trade and stop below 0.7580 as an intraday trade, as we perceive 0.7590-85 to be a decently strong Support.




Happy Trading!