FX Thoughts for the day

[B]GBP-USD @ 1.9866/71…...Towards 1.9917.[/B] R: 1.9888 / 1.9917 S: 1.9850 / 1.9800 GBP-USD, as expected has remained bullish during the day and has moved up further and is currently trading near the highest level of the day. The pair looks headed towards 1.9917, the 2007 High. Note that 1.9917 is the highest level for the pair since Sept-1992. The statistically projected Max High for the day is at 1.9888. On the downside the Support is at 1.9850 and then at 1.9800. The bias for the pair remains positive but the EUR-GBP is strong, indicating that EUR-USD is a better buy currently. . US Trade Balance comes out later on in the day. See chart at [URL]http://www.kshitij.com/utilities/funcharts/ustrbal.shtml[/URL] [B]USD-CHF @ 1.2075/80.…….Freefall currently [/B]R: 1.2130 / 1.2150 S: 1.2083 / 1.2030 / 1.2000 There has been a sharp fall in the USD-CHF during the day and with that the pair is currently headed towards 1.2000 may be later on today or on Monday. Now the Support for the pair is at 1.2030, which has been the lowest level for the pair in 2007. Note the pair is currently near 1.2083, the statistically projected Max Low for the day. On the upside the Resistances are coming in at 1.2130 and then at 1.2150. The bias for the pair continues to be bearish. US PPI comes out on Friday. See chart at [URL]http://www.kshitij.com/utilities/funcharts/usppi.shtml[/URL]. [B]AUD-USD @ 0.8329/33…….Holding Long[/B] R: 0.8349 / 0.8380-90 S: 0.8300 / 0.8275-70 The AUD-USD just keeps rolling along to fresh highs day by day. The pair has once again hit its highest level since Nov 1990, and now the big Resistance for the pair is at 0.8390, the high for Nov-1990. That level may be seen next week. For today the Resistance for the pair is at 0.8349, the statistically projected Max High for the day. On the downside the Support is at 0.8300 and then at 0.8277, the statistically projected Max Low for the day. The bias for the pair continues to be bullish. Looking at the projected Max High for the day at 0.8349, however, we would not mind taking profit on our current Long and then re-instate the Long on a dip. Holding Long: AUD 20K Long at 0.8242, TSL 0.8310, TP 0.8380. Limit Buy Order: Buy AUD 20K at 0.8280, SL 0.8250, TP 0.8380 Happy Trading!