SwissUSD-CHF @ 0.9201/04...Ranged

R: 0.9280-300 / 0.9400
S: 0.9200-180 / 0.9165 / 0.9100

The 21-DMA (0.9188) is continuing to hold and after a sharp fall from the high of 0.9284 to 0.9181, Dollar-Swiss is now trying to bounce back. Broadly the pair was ranged between 0.9165 and 0.9300 allthrough this week and we need to wait for a breakout of this sideways range to get a clear picture on the further direction of move. We will have to wait and see as how the pair closes for the week today.

CableGBP-USD @ 1.5703/06....Ranged

R: 1.5770-5800 / 1.5850
S: 1.5600 / 1.5550

Cable failed to see a strong break below 1.5600 during the day and has risen well from the low of 1.5585. Broadly the pair is retaining its 1.5500-5800 sideways range and we expect it to continue to remain in this range in the US session today. The broader picture looks weak and we expect a pull back from the upper end of this sideways range going forward. Having said this we will be looking to go short once again.

We booked a profit of 145 pips from the Short position entered at 1.5770 and we lost 69 pips from the second Short position entered at 1.5596.

Limit Sell Order:
Sell GBP 10K at 1.5770, SL 1.5835, TP 1.5520
As soon as the market trades 1.5720 after entry bring SL down to 1.5795 and as soon as the market trades 1.5690 there after trail SL to 1.5755

AussieAUD-USD @ 1.0172/75...Immediate Resistance at 1.0200

R: 1.0200 / 1.0280-300
S: 1.0150 / 1.0100 / 1.0050

Aussie has bounced back well from its low of 1.0048 and is trading strong above 1.0100. It needs to be seen whether it can sustain this rise and see a break above 1.0200 in the US session today. We will have to wait and see how the market closes for the week today to get que for going forward in to the next week. Having said this we are staying out of the market.

We got stopped out of the Short position entered at 1.0064 losing 81 pips.

Happy Trading!