EURUSD
Trading strategy: stand aside
The euro advanced higher against the dollar and easily breached the resistance at 1.3140, currently aiming the 1.3200 one – formed by the 61.8% retracement of the 1.3390-1.2885 down leg. Upside should remain favored now, while intra-day support levels at 1.3140 and 1.3050 will hold on potential pullbacks. Next bullish objectives follow 1.3195 at 1.3310 and 1.3390/1.3410. Intra-day studies are bullish and the dailies are about to turn positive too, depending on today’s close. Current exchange rate is 1.3165 @06:25 GMT
Support levels: 1.3140, 1.3040/50, 1.3000 and 1.2885.
Resistance levels: 1.3200, 1.3310 and 1.3410.
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : neutral
Yesterday trading strategy: short at 1.3140, initial stop at 1.3190, objective at 1.3040. Adjust stop to breakeven on +30 pips (at 1.3110) if reached : -50 pips
AUDUSD
Trading strategy: stand aside
Resistance into the .7135/50 region is still intact after few tests since yesterday and the Aussie trades comfortably around .7120 at the time of this writing. Upside is favored and a potential breach of .7150 may open .7230 then the recent top side at .7325. Interim resistance is seen at .7185 – 61.8% of the .7325-.6950 move. Current exchange rate is .7118 @06:25 GMT
Support levels: .7050, .6970 and .6815/40.
Resistance levels: .7135/50, .7180, .7230 and .7325.
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : slightly bearish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
The euro failed once again to establish a stable support above the 1.5200 mark and declined, now testing bids around 1.5100. Support formed by a rising trendline is seen around 1.5085 and a decline below the said level may extend toward 1.5000/15 on the coming sessions. Intra-day momentum is bearish, daily sentiment being negative as well, a break above 1.5300 being required to confirm the uptrend. Current exchange rate is 1.5101 @06:25 GMT
Support levels: 1.5085/90, 1.5000/15 and 1.4930.
Resistance levels: 1.5150/60, 1.5200, 1.5235, 1.5300 and 1.5445/50.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: short at 1.5245, initial stop at 1.5285, objective at 1.5185. Adjust stop to breakeven on +25 pips (at 1.5220) if reached : 0 (entry not reached)
