FX Thoughts for the Day

Welcome to FX Thoughts for the Day, a forex forecasting and trade recommendation service that treats Traders with the respect they deserve. We provide twice daily forex forecasts trade recomendations for US Dollar, Euro, Yen, Swiss Franc and Sterling Pound.         Register for Morning Edition                      Already Registered? Click Here                     EURO JAP YEN EURO-YEN Register to read our current comments and trade recommendations on EUR-USD, USD-JPY and EUR-JPY. Our comments on Dollar-Swiss, Sterling Pound and Australian Dollar are given below. Registering entitles you to a 1-month Free Trial of our full service including Morning Edition, Intra-Day Alerts and access to restricted areas. To register click here. FX Thoughts - Evening I - 16-May-2008 Evening Edition 1738 IST or 1208 GMT or 0808 EST USD-CHF @ 1.0536/40...Watch Resistance at 1.0570-0635 ----------------------------------------------------- R: 1.0561-75 / 1.0610-35 / 1.0664 S: 1.0530 / 1.0502 / 1.0433-14 Dollar-Swiss has found good Support at 1.0502 on the 4-hour chart today. This is potentially bullish. At the same time, Resistances at 1.0575 and 1.0635 continue to hold. A breakout of the 1.0500-0630 range might set the trend for the coming week. If the Housing Starts are good tonight, the market might find the right reason to buy Dollars. A rise past 1.0635 can take the market up to 1.0660 and even 1.0720. For a chart on the US Housing Starts, please click on http://www.kshitij.com/fundamentals/funcharts/ushsgstarts.shtml A better than expected number (say in the region of 1.05 mln) might be very bullish for the Dollar. GBP-USD @ 1.9488/92...Holding Long ---------------------------------- R: 1.9510-24 / 1.9578 / 1.9608 S: 1.9470-50 / 1.9404 / 1.9363 Watch intra-day Support at 1.9470-50. If and while that holds, the Cable might move up towards 1.9575 and 1.9600. If the Support breaks, however, a fall towards 1.9400 and 1.9370 may be seen. At play is a duel between long-term Support at 1.9400 and medium term Resistance at 1.9500. Holding: GBP 10K Long at 1.9492, SL 1.9436 (up from 1.9420), TP 1.9580 AUD-USD @ 0.9494/98...Sell some ------------------------------- R: 0.9490-9500-9510 / 0.9545 S: 0.9410-00 / 0.9355-45 / 0.9325 The Aussie has moved up to near the top of a sideways range of 0.93-95 that might hold over the next couple of days. Since we has suggested selling near 0.95 and buying near 0.93 in the morning today, we are going to try it ourselves. Market Trade (at time of writing): Sell AUD 10K at current level, SL 0.9555, TP 0.9400 Happy Trading! Read the Previous report View Performance History Subscribe now Registration Form We have a Morning Edition as well. Would you like to recieve both the editions via E-Mail or read them online? If so, you can register for a 1 month, "No Obligation" Free Trial by filling out the small Regestration Form below. (Required fields are marked in Blue) Name Designation Email Company Website URL Postal Address Country Phone No. country code   city code   phone no.    Username (8,Alphanumeric) Password (8,Alphanumeric) Re-type Password How did you hear about us? Through a search engine From a friend From Forex Directory From FXStreet.com From Moneytec.com From Globalview.com From Forexfactory.com Enter the code shown (This helps prevent automated registrations.) * Please enter correct details. Incorrect/ invalid/ incomplete entries will not be entertained. If you are apprehensive, please read our Privacy Policy     * Please allow 12-18 hours to process your Registration Request. Go Top Why you should register There is continuity between Morning and Evening editions. You receive the report via E-mail, at least 10 minutes before the website gets updated. Sometimes Intra-day Alerts are sent, only via E-mail. You gain access to restricted areas such as At a Glance. Subscription Details Free Gifts On Subscription An Excel based "FX Trade Planner". Using historical daily volatility measures in the major currencies, this tool helps a Trader plan and budget her monthly P/L. Testimonials Schedule and timings Published between 0530-0600 GMT and 1200-1230 GMT from Monday to Friday.

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