EURUSD
Trading strategy: stand aside
The euro recovered half of recent losses from 1.4300 to 1.4007 and a break above 1.4160/70 may confirm that the drop towards the 1.4000 handle was corrective. Intra-day price action favors a test of 1.4160/70 on the coming trading sessions. Above 1.4170, next objective is seen at 1.4230 then higher, at 1.4300 – recent top. Both intra-day and short-term studies are bullish. Current exchange rate is 1.4140 @06:15 GMT
Support levels: 1.4070, 1.4000, 1.3900 and 1.3830/50
Resistance levels: 1.4160/70, 1.4195/00 and 1.4230/50
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: short at .8390, initial stop at .8450, objective at .8300. Adjust stop to breakeven on +30 pips (at .8360) if reached
The Aussie dollar recovered recent losses and holds gains just fine near the top-side of .8335/40. A re-test of the said resistance is likely, as long as support at .8230 remains intact. Momentum is positive on both short-term and hourly charts. Notable resistance is formed by the 61.8% retracement of the large decline from .9840 to .6005. Current exchange rate is .8294 @06:15 GMT
Support levels: .8230, .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
1.5375 is the first bullish objective formed by the peak reached as a result of the SNB intervention last month. A break above the said level may favor an increase of the daily average range which is very low since weeks ago. Upside is likely to remain favored on a short-term basis, as long as the pair holds above 1.5250/60. Current exchange rate is 1.5330 @06:15 GMT
Support levels: 1.5250/60, 1.5170, 1.5100, 1.5050 and 1.5000/10
Resistance levels: 1.5375/00, 1.5450 and 1.5500
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish
Yesterday trading strategy: stand aside
