|Dear Readers,We have made profit of $663 for this month (October) following the last month's profit of $849. We will be closed for two days next week, on Wednesday (26-Oct-11) and Thursday (27-Oct-11) on account of Diwali holiday. So we are closing our Trade books for this month and we will not be sending any trade calls for the rest of the month. However, our Morning and Evening commentary will go as per schedule.|
|USD-CHF @ 0.8952/55...Significant Support in 0.8925-00|
R: 0.9000 / 0.9080-9100
Dollar-Swiss failed to extend its upmove breaking above 0.9000 and fell sharply during the day. Significant Support is seen in 0.8925-00 region which is holding well as of now. A break below 0.8900 might not be seen and a bounce back to 0.9000-100 can be seen once again. Overall we might expect the pair to be ranged between 0.8900-9100 in the coming sessions.
We booked profit of 60 pips from the Long position entered at 0.8985.
|GBP-USD @ 1.5775/78...Support at 1.5700 holding well|
R: 1.5850 / 1.5880-5900
The Support at 1.5700 is still holding and Cable has bounced back from the day's low of 1.5692. A break above 1.5800 can take it further up to 1.5850 where in the pair could face strong Resistance as witnessed over the last few days. A pull back to 1.5750-00 is possible once again from 1.5850 Resistance level. On the upside strong Resistance is seen in 1.5880-5900 and as such the upmove could be restricted to 1.5900 even on a break above 1.5850. On the whole we will be looking for a range of 1.5700 on the downside and 1.5850-5900 on the upside.
We booked a profit of 38 pips from the Short position entered at 1.5793.
|AUD-USD @ 1.0260/63...Ranged|
R: 1.0350 / 1.0380-0400
Aussie has bounced back well from the day's low of 1.0147. Immediate Support is there in 1.0250-35 region and while it holds, a revisit of 1.0350 is possible in the coming sessions. The bigger picture remains weak with strong Resistance in 1.0380-0400. Having said this we might see sellers coming in to the market on rallies to 1.0350-0400. As such a pull back to 1.0150-00 is possible from 1.0350-400 Resistance region. 1.0100-0400 is the range in which the pair has been trading this week and it is expected to retain this range in the coming sessions for the rest of the week.
We booked a total profit of 135 pips from the Short positions entered at 1.0315 and 1.0190