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[kshitij]

Euro @ 1.0892/7....Holding cautious Short
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R: 1.0897 / 1.0918 / 1.0934
S: 1.0852 / 1.0812-08 / 1.0798-91
Holding EUR 25K Short at 1.0882. SL brought down from 1.0915 to 1.0905. TP retained at 1.0845. As soon as market trades 1.0855, SL will be brought down to 1.0885

See very strong Support at 1.0798-91. Would look to buy Euro near there.


$-Yen @ 118.25/30....Holding cautious Short
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R: 118.32 / 118.45-50 / 118.70
S: 118.20-10 / 117.95 / 117.75-65
Sold $25K at 118.20 in the morning, in case the market fell further towards 117.50. Subsequent dip saw only 117.96. SL moved down to 118.45 on the Short. TP retained at 117.65.


Euro-Yen @ 128.83/8....Holding good Long?
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R: 129.00-06 / 129.16 / 129.37-44 / 129.70
S: 128.82 / 128.53-51 / 128.48-44 / 128.35
Went Long at 128.60 for EUR 50K last night. Stopped out of EUR 25K at 128.60 today. Now holding EUR 25K Long at 128.60. SL thereon moved down to 128.20. Order placed to buy EUR 25K afresh at 128.40, with SL at 128.00. TP open on both positions.

Reading is that the Cross is headed towards 130-131-132 in the medium term and the dips to 128.60-50 last night and today were opportunities to go Long. View comes into doubt below 128.20




$-Swiss @ 1.3551/6...Holding Short
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R: 1.3552 / 1.3585 / 1.3615-20
S: 1.3552-43 / 1.3512 / 1.3500-1.3490
Overall picture very bearish with 1.32 likely to be seen over the next few weeks. For today, have immediate Support at 1.3490. While it holds there might be a rally towards 1.3610-15, whereafter the market will probably fall again, to close near 1.3550. This is for today. While the market
closes below 1.3615, there might be sellers on rallies.

Holding $25K Short at 1.3608. Placing fresh orders. SL on current Short placed at 1.3608. If this is triggered, shall sell $50K afresh at 1.3670, with SL at 1.3700 and TP open. TP open on current position as well.


Cable @ 1.5763/8....Important Support at 1.5731
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R: 1.5795 / 1.5824-30 / 1.5850-5 / 1.5900
S: 1.5753 / 1.5735-31 / 1.5717
Important Support at 1.5735-31. If broken, a fall towards 1.5675-50 might come into picture. If there is inherent strenghth in the Cable, it should find fresh buyers above 1.5735 and close above 1.5795, in order to move up towards 1.5900 later in the week.




Happy Trading!