EURUSD
Trading strategy: small short at 1.2890, initial stop at 1.2930, objective at 1.2790. Adjust stop to breakeven on +30 pips (at 1.2860) if reached.
The week starts by trading lower as the downside is under renewed pressure since breaking below 1.2850 support. Important support is formed at 1.2700/05 and a break may extend losses into the 1.2540/50 region. On the upside, resistance starts at 1.2800 followed by 1.2850 and 1.3. Hourly sentiment is bearish. Below 1.2700 will confirm the bearish momentum of the daily studies. Current exchange rate is 1.2758 @07:15 GMT
Support levels: 1.2700/05, 1.2650 and 1.2550.
Resistance levels: 1.2850, 1.3, 1.3070/90 and 1.3150.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
Friday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
Minor support at .6475 is on focus at the time of this report. The daily studies are slightly bearish as the Aussie Dollar failed to hold recent gains above the .6580 mark. Hourly studies are also negative and more downside action seem likely. Another support level is eyed at .6400/15 backed by .6300 and .6240. Current exchange rate is .6501 @07:15 GMT
Support levels: .6475, .6415, .6350/60, .6300 and .6240.
Resistance levels: .6550, .6580/00, .6650/60, 6800 and .6840/50.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bearish
Friday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
A break above 1.5 is needed to resume uptrend. While trading below the said resistance, downside will be favored and a break below support zone of 1.4860 may open 1.4745/50 for a later test within the upcoming trading sessions. Intra-day studies are mixed at the time of this writing. Current exchange rate is 1.4890 @07:15 GMT
Support levels: 1.4860/70, 1.4800/15 and 1.4745.
Resistance levels: 1.4950, 1.5025/50, 1.5150 and 1.5270.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
Friday trading strategy: stand aside
