EURUSD
Trading strategy: stand aside
Downside is back under pressure as the Euro failed to hold its recent gains above the 1.2850 support. Next support is seen at 1.2620 then 1.2500 and 1.2330, lower. Daily momentum is now bearish, after the 3 days of recovery. The “pin bar” on the daily charts formed on yesterday is bearish for the Euro, suggesting that the downtrend resumed, bearish momentum gaining strength after the failed attempt on establishing support into the 1.3 zone. However, extreme volatility may play some tricks and keep both sides on focus in a sideways manner. On a medium term basis, the downside remains favored. Intraday studies are bearish and resistance levels are emerging at 1.2850 then 1.3 and 1.3300. Current exchange rate is 1.2687 @07:25 GMT
Support levels: 1.2620, 1.2500 and 1.2330.
Resistance levels: 1.2850, 1.3 and 1.3300.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
Current retracement on the downside is weak enough to keep daily sentiment slightly bullish at the time of this report but the scenario will change if the Aussie falls below the .6500 mark, which is highly possible. Intraday studies are bearish and support is seen at .6500 backed by .6340 and .6240. Resistance starts at .6750 followed by .6900 and .7070. Current exchange rate is .6570 @07:25 GMT
Support levels: .6500, .6340 and .6240.
Resistance levels: ..6750, .6900 and .7070.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
Downside is under renewed pressure since the fast decline below the 1.4780 support level. Fragile support is formed at 1.4545/50 and a potential break may extend losses towards the 1.43-1.44 support region. On the upside, resistance starts at 1.4675 followed by 1.4780 and 1.4910. Both daily and intraday studies are bearish. Current exchange rate is 1.4572 @07:25 GMT
Support levels: 1.4545/50, 1.4400 and 1.4300.
Resistance levels: 1.4675, 1.4780 and 1.4910.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: stand aside
