EURUSD
Trading strategy: long at 1.3085, initial stop at 1.3035, objective at 1.3185. Adjust stop to breakeven on +30 pips (at 1.3115) if reached.
The decline initiated at 1.3300 continues to pressure the downside and Friday’s gains from 1.3110 th 1.3300 are almost cleared out as the euro is currently testing bids at 1.3145. If the support zone of 1.3085-1.3110 will remain intact, a rebound to 1.3300 will be favored. Daily sentiment is slightly bullish due to last week’s gains but the intra-day charts are bearish at the time of this report. A break above 1.3200 is needed to change intraday’s view. Current exchange rate is 1.3145 @06:20 GMT
Support levels: 1.3110, 1.3085, 1.3000 and 1.2885.
Resistance levels: 1.3200, 1.3300 and 1.3410.
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : slightly bullish
Friday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
Support has been found at .7095/00 – 50% retracement of the .6950-.7235 up leg. While it holds, a rebound should aim towards the .7170-.7200 region. Daily sentiment is mixed while the intraday is bearish at the time of this writing. Current exchange rate is .7122 @06:20 GMT
Support levels: .7095/00, .7050/60, .6970 and .6815/40.
Resistance levels: .7170/80, .7235 and .7325.
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : slightly bearish
Friday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
Key bearish objective is eyed at 1.5000/10 and a test is possible today. Below 1.5000/10, next support is seen at 1.4910. On the upside, first intra-day resistance is seen at 1.5085 – formed by a rising trend line which provided support for a few days – followed by 1.5135 and 1.5170. Current exchange rate is 1.5063 @06:20 GMT
Support levels: 1.5030/50, 1.5000/10 and 1.4910/30.
Resistance levels: 1.5085, 1.5135, 1.5170, 1.5200 and 1.5235.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Friday trading strategy: stand aside
