EURUSD
Trading strategy: stand aside
Support has been found on the 1.4000 handle on yesterday’s extended decline and the euro currently tries to stabilize above 1.4050. Downside risk remains high on a short-term basis as long as 1.4130 may provide a selling/reversal point on extended gains, hence keeping the euro on the lower zone. A break above former support 1.4130 is needed to confirm that the fall to 1.4007 was corrective. Intra-day sentiment is slightly bullish due to the current recovery. On the downside, a breakdown below 1.4000/05 may favor further weakness towards the next bearish objective – at 1.3830 – current month’s bottom. Current exchange rate is 1.4072 @05:55 GMT
Support levels: 1.4000, 1.3900 and 1.3830/50
Resistance levels: 1.4130, 1.4195/00 and 1.4230/50
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday 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 : 0 (target/stop not reached)
AUDUSD
Trading strategy: stand aside
The Aussie dollar confirmed the short-term support zone of .8130/50 on yesterday’s retracement and now climbs back above the .8200 mark. Important intra-day resistance is seen at .8250/60 and a break is needed to confirm the uptrend’s continuation. Upside is likely to remain favored as long as the rising trend-line support seen around .8130 will remain intact. Current exchange rate is .8204 @05:55 GMT
Support levels: .8130/50, .8070 and .8000
Resistance levels: .8250/60, .8335/50 and .8380
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
Resistance at 1.5275 formed by the 61.8% of the fall from 1.5380 to 1.5105 is under pressure at the time of this report and a breakout seem possible, upside being favored by both short-term and intra-day studies. The potential breakout would confirm that uptrend resumed and next objective will be 1.5380 – recent top. We will see if the daily trading range will also increase once 1.5275 will be cleared. Current exchange rate is 1.5274 @05:55 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 : bullish
Yesterday trading strategy: stand aside
