EURUSD
Trading strategy: stand aside
Yesterday’s gains have been limited by the 1.4300 mark but the euro seem prepared to retry overcoming the upside barriers today. Minor support has been formed at 1.4250, backed by a more stable one at 1.4200 then 1.4170, lower. Above the interim barrier at 1.4300, important resistance is set at 1.4340 – recent top, then 1.4620 – 61.8% retracement of 1.6035-1.2330. Current exchange rate is 1.4275 @05:50 GMT
Support levels: 1.4250, 1.4200, 1.4170 and 1.4120/40
Resistance levels: 1.4290/00, 1.4340/50 and 1.4400
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: short at 1.4350, initial stop at 1.4410, objective at 1.4270. Adjust stop to breakeven on +30 pips (at 1.4320) if reached : 0 (entry not reached)
AUDUSD
Trading strategy: short at .8365, initial stop at .8425, objective at .8265. Adjust stop to breakeven on +30 pips (at .8335) if reached
The Aussie dollar is performing a bit better than the euro and managed to hold gains into the fresh top-zone against the dollar, now trading at .8300, 80 pips away from the 61.8% of the large decline from .9850 to .6005. Although the two pairs are not fully correlated, the potential test on the .8380 resistance would suggest the test on 1.4620 on EURUSD, but a bit delayed. Keep an eye on the .8350-.8380 zone as a test is highly possible within the next sessions. Current exchange rate is .8287 @05:50 GMT
Support levels: .8180/85, .8130/45 and .8000
Resistance levels: .8250/60, .8300 and .8380
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
The euro maintains the bid tone against the Swiss franc but trades into the same narrow range we got used to. Next resistance is seen at 1.5275 while support starts at 1.5230, backed by 1.5170. Upside is slightly favored. Current exchange rate is 1.5250 @05:50 GMT
Support levels: 1.5230, 1.5170, 1.5100, 1.5050 and 1.5000/10
Resistance levels: 1.5275, 1.5300 and 1.5350
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish
Yesterday trading strategy: stand aside
