EURUSD
Trading strategy: small long at 1.2480, initial stop at 1.2440, objective at 1.2580. Adjust stop to breakeven on +30 pips (at 1.2510) if reached.
The Euro maintains a neutral stance on short-term basis, trading at 50 points above daily support formed by 1.2660. Intra-day studies are bearish at the time of this writing and the downside seem fragile. A break below 1.2660 will favor extended losses towards lower objectives, at 1.2515 and maybe 1.2330. On the upside, resistance starts at 1.2750 followed by 1.2800 and 1.2890. Other important barriers are seen at 1.2990/00 and 1.3100 and those are likely to limit the upside on potential rallies. A break above 1.3100 is needed to fully confirm an uptrend. Current exchange rate is 1.2710 @07:20 GMT
Support levels: 1.2660, 1.2570 and 1.2515.
Resistance levels: 1.2750/60, 1.2800, 1.2890 and 1.2990.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : neutral
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: small short at .6650, initial stop at .6690, objective at .6580. Adjust stop to breakeven on +30 pips (at .6620) if reached.
The Aussie Dollar retreats after yet another failed attempt on breaking .6550. Minor support is being tested right now at .6450. Lower barriers are emerging at .6390 and .6330. A break of .6550 is needed to resume uptrend and focus towards important bullish objectives at .6650 and .6850. Intra-day studies are bearish at the time of this writing. Current exchange rate is .6445 @07:20 GMT
Support levels: .6450, .6390 and .6330.
Resistance levels: .6550, .6590 and .6650/60
Market sentiment: long-term : bearish, mid-term : bearish , short-term : neutral
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
Support on the 1.4800 handle still holds, therefore the short-term sentiment is slightly bullish but a break below the said support will cancel the weak uptrend and most likely extend losses towards the 1.4650-1.4700 support zone. On the upside, resistance at 1.4930 has to be cleared out in order to re-gain strength and aim towards 1.5150 within the upcoming days. Current exchange rate is 1.4834 @07:20 GMT
Support levels: 1.4800, 1.4750/60, 1.4700 and 1.4650.
Resistance levels: 1.4930, 1.5010/20, 1.5100 and 1.5150.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish
Yesterday trading strategy: stand aside
