EURUSD
Trading strategy: stand aside
Downside is under renewed pressure after testing offers on the 1.3 handle on yesterday. The Euro already lost its gains from yesterday and the decline is likely to accelerate lower once the support into the 1.2730/50 region will be cleared out. Both daily and intraday studies are bearish and support at 1.2660, below 1.2730/50, is on focus. Looking even lower, key support is also seen into the 1.2450/70 region, formed by a bottom of 2006 which has been intact for 5 months. On the upside, resistance is seen at 1.2830 followed by 1.2875, 1.2910 and 1.3. Bearish structure is not affected by yesterday’s spike to 1.3 as the Euro lost strength pretty fast. Current exchange rate is 1.2766 @06:25 GMT
Support levels: 1.2730/50, 1.2660 and 1.2450/70.
Resistance levels: 1.2830, 1.2875, 1.2910 and 1.3.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: small short at 1.3, initial stop at 1.3040, objective at 1.2910. Adjust stop to breakeven on +30 pips (at 1.2970) if reached : +90 pips
AUDUSD
Trading strategy: stand aside
Support at .6340 is under pressure and a potential break may extend losses towards next important levels at .6250 and .6100. Resistance is seen at .6450 followed by .6550 and .6740. Both daily and intraday studies are bearish. Current exchange rate is .6413 @06:25 GMT
Support levels: .6340, .6250 and .6100.
Resistance levels: .6450, .6550 and .6740.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
The failed attempt on getting past the 1.5 mark suggests that downtrend is very strong and it is too early to look for an extended correction. Support at 1.4845 remains on focus while the Euro trades below 1.5. Resistance emerges at 1.4965 followed by 1.5 and 1.5075. Current exchange rate is 1.4919 @06:25 GMT
Support levels: 1.4900, 1.4845 and 1.4790.
Resistance levels: 1.4965, 1.5075, 1.5145 and 1.5190.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: small short at 1.5070, initial stop at 1.5110, objective at 1.4980. Adjust stop to breakeven on +30 pips (at 1.5040) if reached : 0 (entry not reached)
