eng.mohamed
عضو نشيط
USD-CHF @ 0.9284/87...Mixed
R: 0.9300 / 0.9335 / 0.9395
S: 0.9240 / 0.9210 / 0.9175
Swiss has moved up after taking support near 0.9240. Dollar index (79.74) has also bounced though it remains bearish in the medium term for a fall towards 79.45, but this current short covering can take it towards 79.80-90 before the down trend continues. Euro (1.3087) has support just below current levels at 1.3080-70 from where it can bounce back but if it breaks then we can see some profit booking in Euro which can take it lower towards 1.3020. Swiss on the bigger picture is still in the 0.9500-200 range, now this current bounce can face resistance at 0.9300-35 but we are not sure how far this rally can go. Whether or not a further rise to 0.9400 will be seen will depend on how it closes today and we will have to look if Euro take support near 1.3080-70 or not. We have a position in Euro and we would avoid trading Swiss currently.
GBP-USD @ 1.6110/13...Bullish
R: 1.6160 / 1.6200 /
S: 1.6080-60 / 1.5990 /
Cable continues to be strong as it found support on the dip to 1.6090 on the short term charts. The outlook for cable remains bullish and we can see it rising towards 1.6160-200 in the coming sessions. Dips are expected to find support near 1.6080-50 which are expected to bought aggressively. Daily and the weekly charts continue to look good and strong for a further rise and the bullish bias remains intact.
Limit Buy Order
Buy GBP 10K at 1.6065, SL 1.5990, TP 1.6150
AUD-USD @ 1.0470/73...1.0480-280 range continues
R: 1.0480-510 / 1.0570 / 1.0625
S: 1.0430-380 / 1.0320 / 1.0280
Aussie faced resistance near 1.0480 levels and has dipped again as it continues to trade in the 1.0480-280 range. The chances of an upward break cannot be ruled out for a further rise to 1.0570. Dips in Aussie can find support inside the range near 1.0430-00. We would avoid trading the pair till it remains below 1.0480 as chances of the range continuing for some more time cannot be ruled out.