EURUSD
Trading strategy: stand aside
Upside has been limited by the 1.3380 resistance on yesterday and the euro pulled back to as low as 1.3190 afterwards. The pullback to 1.3190 is corrective and the euro will probably rebound, pushing on the 1.3380/00 mark once again. Markets are expected to be quiet today due to the Labour Day holiday. Current exchange rate is 1.3290 @06:40 GMT
Support levels: 1.3220, 1.3175/90, 1.3090/00, 1.3050 and 1.2965
Resistance levels: 1.3335/40, 1.3380, 1.3410 and 1.3550/85
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : bullish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
The Aussie dollar managed to overcome the yearly top at .7325, setting a fresh high at .7380. Next medium term objective is seen at .7675 followed by .7920. Potential pullbacks should be limited within the .7140-.7185 range or else the short-term sentiment may change. Current exchange rate is .7299 @06:40 GMT
Support levels: .7240, .7185, .7140/70 and .7100
Resistance levels: .7325, .7380, .7400 and .7540
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : bullish
Yesterday trading strategy: long at .7140, initial stop at .7090, objective at .7240. Adjust stop to breakeven on +30 pips (at .7170) if reached : 0 (entry not reached)
EURCHF
Trading strategy: stand aside
Resistance formed by a falling trendline – part of a downward channel, is seen around 1.5150. A break above the said level may initiate a bullish structure and first objective is eyed at 1.5300. Current exchange rate is 1.5118 @06:40 GMT
Support levels: 1.5050, 1.5000/10, 1.4910/30 and 1.4800.
Resistance levels: 1.5135/50, 1.5170, 1.5200 and 1.5235.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: stand aside
