EURUSD
Trading strategy: stand aside
The Euro recovered on yesterday but upside has been limited by the resistance region of 1.2720/50 and pulled back into the 1.2580 zone where bids are tested at the time of this writing. Daily sentiment remains bearish as a break above 1.2890 is needed to confirm a reversal. Support emerges at 1.2550 backed by 1.2500/10 then 1.2400/20 and 1.2330, lower. Intra-day studies are also bearish. Downside is expected to stay under pressure while trading below 1.2900. Current exchange rate is 1.2578 @07:10 GMT
Support levels: 1.2540/50, 1.2500/10, 1.2400/20 and 1.2330.
Resistance levels: 1.2720/50, 1.2800 and 1.2890.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: small short at 1.2805, initial stop at 1.2845, objective at 1.2715. Adjust stop to breakeven on +30 pips (at 1.2775) if reached : 0 (entry not reached)
AUDUSD
Trading strategy: stand aside
Resistance into the .6530 zone could not be cleared out on yesterday and the bearish objectives are back on focus, first support being seen at .6330. A break lower will probably extend losses towards .6250 which is a key barrier. Resistance emerges at .6450 followed by .6530 and .6590. Momentum is bearish on both hourly and daily charts. Current exchange rate is .6363 @07:10 GMT
Support levels: .6330, .6300 and .6250.
Resistance levels: .6450, .6530 and .6650/60.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
Momentum regains strength as the upside is under pressure. First resistance is seen at 1.4950 and a potential break will confirm that the uptrend resumes. Support emerges at 1.4840 backed by 1.4750 and 1.4700. Intra-day studies are slightly bullish and rallies towards the 1.5 mark seem favored. Current exchange rate is 1.4875 @07:10 GMT
Support levels: 1.4840, 1.4750, 1.4700, 1.4650 and 1.4500.
Resistance levels: 1.4900, 1.4950 and 1.5010/20.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
Yesterday trading strategy: small short at 1.4950, initial stop at 1.4990, objective at 1.4870. Adjust stop to breakeven on +30 pips (at 1.4920) if reached : 0 (entry not reached / missed by 5 pips)
