EURUSD
Trading strategy: stand aside
The Euro trades in a narrow range below the 1.3 mark, consolidating recent gains and volatility will probably remain low today. Minor resistance is seen at 1.2970 followed by 1.3080/00 and 1.3125. On the downside, support is seen at 1.2880 backed by 1.2800/15 and 1.2680. Both daily and intraday studies are bullish. While holding above 1.2815, upside is on focus and a sustained break of 1.3080 seem possible during the next trading days. Current exchange rate is 1.2925 @07:40 GMT
Support levels: 1.2880, 1.2800/15, 1.2680/00 and 1.2565.
Resistance levels: 1.2970, 1.3080/00, 1.3125 and 1.3260.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
Holding just a few pips below the resistance at .6600 at the time of this writing, the Aussie dollar seem set for a potential break which will confirm current uptrend. A break of .6600 opens .6690/00 for a later test. Support is seen at .6535/50 backed by .6480 and .6390. Current exchange rate is .6579 @07:40 GMT
Support levels: .6535/50, .6480, .6390/00 and .6340.
Resistance levels: .6600 and .6700.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: small long at 1.5335, initial stop at 1.5295, objective at 1.5395. Adjust stop to breakeven on +30 pips (at 1.5365) if reached.
Resistance at 1.5535/50 is intact and could not be broken on recent tests. Intraday studies are bearish as the Euro is losing strength versus the Swiss Franc, now testing support into the 1.5470 region, formed by an hourly rising trendline. A break below 1.5450 will probably open 1.5335 for a later test. Current exchange rate is 1.5473 @07:40 GMT
Support levels: 1.5450/70, 1.5335 and 1.5220/30.
Resistance levels: 1.5535/50 and 1.5620.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish
Yesterday trading strategy: small long at 1.5315, initial stop at 1.5275, objective at 1.5385. Adjust stop to breakeven on +30 pips (at 1.5345) if reached: 0 (entry not reached)
