EURUSD
Trading strategy: stand aside
Daily momentum is slightly bullish due to the 400 points recovery from 1.2515 and resistance emerges at 1.2990/00 followed by a more important barrier into the 1.3075/90 zone. Hourly studies are positive as the Euro gained 170 points today. Support starts at 1.2890 backed by 1.2800/10 and 1.2720/50. Upside may remain under pressure while support into the lower 1.28 zone is intact. Current exchange rate is 1.2944 @07:10 GMT
Support levels: 1.2890, 1.2800/10 and 1.2720/50.
Resistance levels: 1.2990, 1.3075/90 and 1.3320/30.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish
Friday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
Minor short-term resistance emerges at .6590 and .6650, formed by the 50% and 61.8% retracements of the .6850-.6330 move. Interim resistance is currently under pressure at .6530. A break above .6650 will confirm the uptrend. Hourly studies are bullish at the time of this writing and will remain intact while support into the .6450/60 zone holds. Current exchange rate is .6525 @07:10 GMT
Support levels: .6450/60, .6330, .6300 and .6250.
Resistance levels:.6530 and .6650/60.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : neutral
Friday trading strategy: stand aside
EURCHF
Trading strategy: small short at 1.5020, initial stop at 1.5060, objective at 1.4950. Adjust stop to breakeven on +30 pips (at 1.5990) if reached.
Friday’s retracement from 1.4990 is over the the pair is currently advancing towards the first resistance at 1.4900. Above 1.4900, other upside barriers are formed by 1.4950 then 1.4990 and 1.5010/20. Hourly studies are bullish and a break above 1.4950 will suggest that a bullish structure is being formed, favoring gains towards 1.5100 on first phase. Support is seen at 1.4850, 1.4760 and 1.4700. Current exchange rate is 1.4899 @07:10 GMT
Support levels: 1.4840, 1.4750/60, 1.4700 and 1.4650.
Resistance levels: 1.4900, 1.4950 and 1.5010/20.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : neutral
Friday trading strategy: stand aside
