|USD-CHF @ 1.0317/20...Holding Short|
|R: 1.0350-65 / 1.0430 / 1.0470|
S: 1.0300 / 1.0255-30 / 1.0220-00
The Resistance region 1.0330-60 mentioned earlier has held and Swiss has fallen from Friday's high of 1.0368 as expected which is keeping the overall downtrend intact. A break below 1.0300 might see 1.0220-00 on the downside in the coming sessions/days. Note that the pair continued trading above 1.0200 most part of the last week. On the upside Resistance is seen in 1.0350-65 which we may expect to hold during the day as the broader picture continue to remain bearish. However, a strong break above this Resistance region (1.0350-65) might increase the chances of further rise towards 1.0450-70.
|GBP-USD @ 1.6303/07...Sideways ranged|
|R: 1.6343-46 / 1.6394-6419 / 1.6460|
S: 1.6229 / 1.6071 / 1.6020-6000
Cable has risen after falling towards 1.6196 and has continued to close above the Support Trendline at 1.6229. Over the last 4 days, this Support is being tested, spiked and recovered. The 3-Day charts suggest a structured and smooth fall towards 1.60 this week. This, once the Support at 1.6229 is broken. But if it continues to be honoured, the pair could move into a sideways range just like every other thing in the market. An upside is likely to be limited to 1.65 this week. For today, the Projected Max High and Low for the day is at 1.6394 and 1.6071 respectively. To see the chart of Cable, click on: http://www.kshitij.com/graphgallery/gbpcandle.shtml#candle
|AUD-USD @ 0.9105/09...Crucial Support at the 13-Week-MA (0.9061)|
|R: 0.9160 / 0.9230 / 0.9320|
S: 0.9061 / 0.8980 / 0.8930
Aussie has risen from the day's low of 0.9054 and is now trading just above 0.9100. The 13-Week-MA (currently at 0.9061) is the crucial Support level to watch for which is holding the pair above 0.9000 over the last couple of weeks. This keeps the overall uptrend still alive. A strong break below the 13-Week-MA might pull it down towards 0.8900-0.8880 or even lower.
On the other hand if it continues to trade above 0.9100 we might see a rise towards the Resistance at 0.9160. A strong break above 0.9160 might see a rise towards 0.9230-60.
Forex Trader Library
Receive over 15 hours (8 CD's) of our best Forex trading education in one package! Containing the newest Advanced Forex CD, this education pack focuses on exactly what you need to know to become a successful Forex Trader.