EURUSD
Trading strategy: small long at 1.5690, initial stop at 1.5650, objective at 1.5740. Adjust stop to breakeven on +30 pips (at 1.5720) if reached.
The daily close above the 1.5670 mark (50% retracement of the 1.5302-1.6038 move) suggests that a correction towards the mid 1.57 or above is possible today. Support backs 1.5670 at 1.5630 and 1.5585. Resistance starts at 1.5715/20 followed by 1.5755/60 and 1.5810, higher. Daily sentiment is bearish while the hourly studies are slightly bullish at the time of this report. A sustained break above 1.5755 could open 1.5810 and resume uptrend while downside risk emerges below 1.5630 and 1.5585. Upside remains on focus now if intraday support into the 1.5670 zone holds. Current exchange rate is 1.5713 @06:10 GMT
Support levels: 1.5670, 1.5630 and 1.5585
Resistance levels: 1.5715, 1.5750/60 and 1.5810.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bearish
Yesterday trading strategy: small long at 1.5588, initial stop at 1.5548, objective at 1.5648. Adjust stop to breakeven on +30 pips (at 1.5618) if reached : 0 (entry not reached)
AUDUSD
Trading strategy: small short at .9665, initial stop at .9700, objective at .9615. Adjust stop to breakeven on +30 pips (at .9635) if reached.
While trendline support at .9560 holds, a rally towards .9665 is possible although it could be corrective in nature. Above .9665 confirms uptrend. Interim resistance is seen at .9635 while support backs .9560 at .9540 and .9480. Short term studies are bearish. Current exchange rate is .9586 @06:10 GMT
Support levels: .9560, .9540 and .9480.
Resistance levels: .9600, .9636 and .9665.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bearish
Yesterday trading strategy: small long at .9490, initial stop at .9460, objective at .9540. Adjust stop to breakeven on +30 pips (at .9520) if reached : 0 (entry not reached)
EURCHF
Trading strategy: stand aside
The failure to clear the resistance at 1.6300 encourages further downside action if intraday support into the 1.6220 region will break. Minor resistance is seen at 1.6255. Intraday studies are bearish at the time of this report. Current exchange rate is 1.6240 @06:10 GMT
Support levels: 1.6220, 1.6200 and 1.6160
Resistance levels: 1.6255, 1.6300 and 1.6375.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: stand aside
