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[kshitij]

Euro @ 1.1712/7....Narrowing SL on Long
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R: 1.1691 / 1.1723 / 1.1756
S: 1.1671 / 1.1654-45 / 1.1547-32
In keeping with view of range trade between 1.17-1.19, we took a Long at 1.1700. If the Euro continues to be sold in the US session, past 1.1650, then it would probably fall towards 1.1550

Holding:
EUR 25K Long at 1.1700. SL narrowed to 1.1669 (from 1.1650), TP kept at 1.1800. As soon as market trades up to 1.1720, SL will be brought up further to 1.1680. Thereafter, as soon as market trades 1.1750, SL will be brought up to Entry.

Order:
Sell EUR 25K at 1.1659, SL 1.1709, TP 1.1559


$-Yen @ 108.48/53...Still bearish
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R: 108.75 / 109.03 / 109.56
S: 108.29-27 / 108.00 / 107.90
Little movement since the morning, except a small spike up to 108.86 (did not trigger our sell order at 108.98).

Holding:
$25K Short at 110.65, TSL moved up to 109.35, TP kept open

Order:
Sell $25K at 108.98, SL 109.35, TP open
OR
Sell $ 25K at 108.15, SL 108.65, TP open


Euro-Yen @ 127.09/14...Support coming up
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R: 127.15-30 / 127.72-88 / 128.19
S: 126.55-50 / 126.25
Multi-month Support coming up between 126.50-126.25. We missed selling in the morning and are tempted to sell now. which might be a signal of impending loss. Better to sell on a rally than now. We prefer to wait tonight.


$-Swiss @ 1.3222/7....Watch 1.3228
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R: 1.3272-86 / 1.3324-31
S: 1.3195-82-72-60-50
Possibly the upward correction is already underway and it might be worthwhile buying on dips. Multi-layered Support now available from 1.3195 down to 1.3150. BUT, we would still like to wait to see a DAY CLOSE above 1.3228


Cable @ 1.6631/6....Trap?
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As suspected today's fall in Cable could have been a trap. Watch tonight, trade tomorrow


Happy Trading!