Trading ideas on AUD/USD, GBP/USD and USD/CHF 01/31
February 1, 2013 2:12 AM EST
|USD-CHF @ 0.9112/15...Continues to hold the 0.9400-0.9080 range|
|R: 0.9135 / 0.9180 / 0.9270 / 0.9380
S: 0.9080-75 / 0.8950 /
Dollar-Swiss is holding well above its crucial 0.9100-0.9080 support region and the possibility of a bounce from current levels persists. We are slightly biased for this support to hold and hence we have also taken long positions in it. If 0.9100-0.9080 is held then we can see the 0.9080-400 range continuing for some more days. A break on the down side will push it lower towards 0.9000-0.8950.
|GBP-USD @ 1.5793/96...Likely to rise after it finds support near 1.5750 on the current dip|
|R: 1.5840 / 1.5880-900 /
S: 1.5800 / 1.5765-50 / 1.5680
Cable has continued to rise and currently seems to have taken some resistance near 1.5845 (23.6% Fibonacci on the daily charts of the current fall from 2nd November) which we had mentioned in the morning. An immediate dip towards 1.5750-00 cannot be ruled out but there are good chances that the bigger trend has reversed and a rise towards 1.6000 and 1.6050-100 can be seen. We would be looking to take long position on this current dip towards 1.5750.
Limit Buy Order
EUR-GBP @ 0.8585/88...Limit Sell Order