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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 @ 1.2541/6....Selling some
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R: 1.2571 / 1.2602
S: 1.2520 / 1.2487-80
$-Swiss rallied to a high of 1.2571, and found Resistance at the 200-MA on the daily at 1.2572. It has once again fallen subsequently, reinforcing the Resistance at 1.2572. IN CASE that is crossed it could lead to a rally towards 1.2602, the statistically projected Max High for the day. On the downside the Supports are coming in at 1.2520 and then at 1.2487, which is the statistically projected Max Low for the day.

The outlook is bearish. We did not sell earlier, but would like to do so now.

Trade:
Sell $25K at current level, SL 1.2592, TP 1.2430. As soon as the market trades 1.2420, bring SL down to 1.2582. As soon as the market trades 1.2490, bring SL down to 1.2560


Cable @ 1.8910/5....Looking bullish
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R: 1.8930 / 1.8977
S: 1.8871 / 1.8844-38 / 1.8807
The Cable has consolidated well during the day as expected in the morning, with a brief decline to a low of 1.8871. That has now become a good intraday Support. 1.8930 remains the important Resistance. The upmove would gather momentum on a break thereof, to target 1.8977, the statistically projected Max High for the day. The bias for the day is bullish while the market trades above 1.8835, and a dip to 1.8870 could be used to buy with stop below 1.8835.




Aussie @ 0.7656/60...Remains bullish
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R: 0.7653 / 0.7672
S: 0.7620 / 0.7600
The Aussie had a minor dip to a low of 0.7624 during the day and has once again bounced up. With this the pair continues with its “buy on dips” theme. For the day the Resistances stay at 0.7653 and then at 0.7672, which is the statistically projected Max High for the day. On the downside the Supports are at 0.7620 and then at 0.7600. The Bullish bias stays while the pair
stays above 0.7600 on a daily close basis.




Happy Trading!