EURUSD
Trading strategy: waiting for potential break above 1.3700 to consider a long position
The euro is approaching the trend line resistance extended from 1.3840, now around 1.3690. Yesterday’s gains were limited ahead of the said resistance level but the euro is conserving recent gains above 1.3600 so a new test is likely. To the downside, support is seen around 1.3550- formed by the median retracement of the last week’s upward move, backed by 1.3490. Intra-day sentiment is slightly bullish and the shor-term momentum will turn positive on break of 1.3690/00. Current exchange rate is 1.3639 @07:15 GMT
Support: 1.3600, 1.3550, 1.3490/00 and 1.3440/50
Resistance: 1.3690/00, 1.3735/50, 1.3780 and 1.3840/60
Market sentiment: long term – bullish, medium term – bearish, short term – neutral, intra-day – slightly bullish
Quote of the day: Insanity is doing the same thing over and over again and expecting a different result. -- Albert Einstein
EURUSD
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EURUSD
Trading strategy: stand aside
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