EURUSD
Trading strategy: stand aside
The Euro lacks direction and continues to consolidate below the 1.36 mark after another failed attempt to stabilize higher on yesterday. First intra-day support is seen at 1.3500/05 – 61.8% retracement of Wednesday’s trading range – confirmed on yesterday’s pullback from 1.3640 topside. Below 1.3500/05, other barriers are noticed at 1.3415/30 and 1.3330. On the upside, intra-day resistance is clustered into the 1.3640-1.3740 zone – formed by previous days highs. A potential break out of the range, above 1.3740, will confirm the uptrend resumption, aiming towards notable mid-term barrier at 1.3855. Upside remains slightly favored for now, despite the choppy price action. Current exchange rate is 1.3579 @07:00 GMT
Support levels: 1.3500/05, 1.3415/30, 1.3330, 1.3240 and 1.3095/00.
Resistance levels: 1.3640/50, 1.3680, 1.3740/50, 1.3800 and 1.3855.
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : bullish
Yesterday trading strategy: small long at 1.3620, initial stop at 1.3580, objective at 1.3720. Adjust stop to breakeven on +30 pips (at 1.3650) if reached : -40 pips
AUDUSD
Trading strategy: small long at .6880, initial stop at .6840, objective at .6950. Adjust stop to breakeven on +30 pips (at .6910) if reached.
The consolidation around the .7000 mark continues, hourly studies being slightly bearish at the time of this writing. First intra-day support, at .6975 – yesterday’s low and the 50% retracement of Wednesday’s move from .6900 to .7050 – is under minor pressure right now, as the Aussie Dollar trades around .6987. Below the said support, next bearish objectives are emerging at .6900 and .6850. Daily sentiment remains bullish while holding above .6850. Current exchange rate is .6985 @07:00 GMT
Support levels: .6975, .6945/50, .6900, .6850 and .6700.
Resistance levels: .7050, .7090/00, .7135 and .7265.
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
The Euro recovered some ground against the Swiss Franc on yesterday, but failed to break the resistance at 1.5290/00. Above 1.5290/00, next barriers are seen at 1.5350 and the recent top at 1.5445. Intra-day sentiment is slightly bullish at the time of this writing and the upside is favored. However, a break above 1.5300 is needed to resume uptrend and aim on the 1.5450 for a potential re-test. Current exchange rate is 1.5260 @07:00 GMT
Support levels: 1.5190/00, 1.5150 and 1.5000/10.
Resistance levels: 1.5290/00, 1.5350, 1.5420/50 and 1.5500/30.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish
Yesterday trading strategy: stand aside
