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[kshitij]

Euro @ 1.2962/5.....May see 1.3042
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R: 1.2975 / 1.3008-16 / 1.3042-53
S: 1.2934 / 1.2918-1.2894 / 1.2868-45
The Euro has broken out of resistances at 1.2945-47. As it sustains above theses level today the pair might test a major resistance level at 1.3042 tomorrow. The overall downward pressure in the pair is expected to remain while it stays below 1.3042. In case it falls below 1.2945 in the US session tonight, the pair could range between 1.2945-1.2845


$-Yen @ 107.84/8.....Further to fall?
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R: 108.06-24 / 108.40-65 / 108.92
S: 107.71-59 / 107.32 / 106.93
The pair has broken the earlier support at 108.12 and has fallen to 107.70 already. Our long at 108.45 got stopped out at 108.18. If the 107.50 Support mentioned in the morning is also broken, then a further fall to 107.00 may be possible.

On the down side it could find some supports near 106.90 levels, which might attract buying for a bounce back towards 108.50 and above.


Euro-Yen @ 139.80/5....Ranged with bearish bias
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R: 139.97 / 140.26-42 / 141.00
S: 139.80-76 / 139.43-21 / 139.04-138.90
Resistance at 140.26 has held the Cross down so far today. As it continues to remain below 140.26-42 today it could test supports at 139.50 or even 139.30 on the downside. In case it falls below 139.30 it could result in a further fall to 138.50 over the next couple of days.

For now, the Cross might be ranged between 139.50 and 140.27


$-Swiss @ 1.1948/53....Holding cautious Short
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R: 1.1972 / 1.2010-39 / 1.2085
S: 1.1914-1.1896 / 1.1880 / 1.1857
The pair has broken below a strong support level at 1.1968 and might test the supports in the region of 1.1900-1.1885 today. In case it holds expect a bounce back to 1.2022 later on. On the other hand a break below supports might result in a fall to 1.1840 and below.

Holding :
$25K Short at 1.1950, SL 1.1985 ,TP 1.1910.


Cable @ 1.8885/90....Watch for a while.
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R: 1.8914-35 / 1.8967-74 / 1.8998-1.9018
S: 1.8884 / 1.8851 / 1.8815-1.8791
The Cable spiked above 1.8889 to register a high near 1.8924 but has come back down to 1.8889. If the pair is able to sustain above 1.8865 today it might attract sustained buyers. But in case the spike was only a false break above 1.8889, then a fall back below this level could revert the near term bullishness in the pair.

Keeping out of the pair at the moment no trades.


Happy Trading!