EURUSD
Trading strategy: long at 1.4050, initial stop at 1.3990, objective at 1.4130. Adjust stop to breakeven on +30 pips (at 1.4080) if reached
Downside is under renewed pressure as the euro pulled back on yesterday – the pullback being initiated after yet another failed attempt on breaking above 1.4300. Short term momentum is not affected yet but below 1.4030/50 may cancel the current bullish view and extend weakness towards 1.3750. Intra-day sentiment is negative and the euro needs to climb above 1.42030/50 in order to resume uptrend and confirm that the decline to 1.4130 on yesterday was corrective. Current exchange rate is 1.4145 @06:15 GMT
Support levels: 1.4115/30, 1.4030/50 and 1.4000
Resistance levels: 1.4195/00, 1.4230/50 and 1.4300
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
The Aussie dollar extended gains towards .8380 key barrier but switched direction at .8335, retracing to as low as .8220 where it trades at the time of this writing. Downside is likely to remain under pressure until reaching a decent support level and that could be .8150 or .8070, lower. Short term sentiment remains bullish while intraday studies are bearish and extended losses to lower levels will be good buying opportunities. Current exchange rate is .8226 @06:15 GMT
Support levels: .8180/85, .8150 and .8070
Resistance levels: .8250/60, .8335/50 and .8380
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: short at .8365, initial stop at .8425, objective at .8265. Adjust stop to breakeven on +30 pips (at .8335) if reached : 0 (entry not reached)
EURCHF
Trading strategy: stand aside
Nothing is changed since yesterday and the pair continues to move sideways around 1.5230. Short-term sentiment is slightly bullish and support is seen at 1.5200/15 while resistance is set at 1.5275. Current exchange rate is 1.5230 @06:15 GMT
Support levels: 1.5200, 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
