Trade ideas on GBP/USD, AUD/USD and USD/CHF

USD-CHF 1.0127/30...Ranged with a bearish bias

R: 1.0200 / 1.0245-60 / 1.0291-300
S: 1.0100 / 1.0050 / 1.0012-00

Dollar-Swiss has again moved up from the Support level at 1.0100 in the European session today. The pair may continue to spend some more time in the range of 1.0100-75 before a dip towards 1.0050, where it will be worth buying for an eventual rally on the pair in the coming days.

Please note that 1.0050 is a very strong Support on the Monthly and the Weekly charts and a strong break below it looks unlikely.

Limit Buy Order:
Buy USD 10K at 1.0065, SL 0.9975, TP Open
Buy USD 10K at 1.0045, SL 0.9975, TP Open
Buy USD 10K at 1.0015, SL 0.9975, TP Open

GBP-USD @ 1.5330/33...Strong Support at 1.5300

R: 1.5400-25 / 5480-500 / 1.5600
S: 1.5320-00 / 1.5250 / 1.5222

Cable has just dipped below the narrow range of 1.5350-400 in which it was trading since the US session yesterday. We continue to hold our view of a fall towards 1.5300 on the pair today befoe a bounce on the higher side in the coming days. please note that 1.5300 is a very strong Support on the monthly, weekly and the daily charts, which may not be broken easily in the coming days. We would want to buy on dips rather than sell rallies, for an eventual rise on the pair towards 1.5600-50 the next few days/weeks. The suggested max low for (a) today is 1.5301 and (b) this week is 1.5316.

Limit Buy Order:
Buy GBP 10K at 1.5300, SL 1.5210, TP Open
Buy GBP 10K at 1.5250, SL 1.5210, TP Open

Follow us

AUD-USD 0.9114/17...Sell Rallies

R: 0.9200 / 0.9250-65 / 0.9330
S: 0.9100 / 0.9000-20 / 0.8900-890

As expected Aussie dipped to a low of 0.9092 in the European session today and is currently trading above 0.9100. We may see the pair move up towards 0.9150-75 in the coming sessions over today and tomorrow before another fall below 0.9100 in the coming days.

Overall we may see the pair move in a narrow range of 0.9175-9025 in this week before a breakout on the lower side going forward.

Limit Sell Order:
Sell AUD 10K @ 0.9175, SL 0.9265, TP Open
Sell AUD 10K @ 0.9200, SL 0.9265, TP Open
Happy Trading!

This report has been prepared by Kshitij Consultancy Service. For more, go to Kshitij Consultancy Service

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EUR/USD Weekly Outlook

EUR/USD's decline extended further as expected as reached as low as 1.2496. The break of 1.2625 confirmed resumption of whole fall from 1.4939. Initial bias remains on the downside this week.