EURUSD
Trading strategy: short at 1.3590, initial stop at 1.3640, objective at 1.3505. Adjust stop to breakeven on +30 pips (at 1.3560) if reached
Support has been found on the 61.8% retracement of the 1.3250-1.3720 move at 1.3430 and the euro is currently recovering some of its recent losses. Daily sentiment remains positive despite Friday’s pullback and a potential resume of the uptrend may be signaled if the euro will climb past the 1.3520-1.3540 resistance region. Intra-day studies are still bearish but above 1.3490, extended gains will be favored towards the 1.3550 zone. On the downside, next objectives are seen below 1.3430 at 1.3345/50 and 1.3250/55 – the 50% and 61.8% retracements of the 1.2965-1.3720 move. Current exchange rate is 1.3458 @06:03 GMT
Support levels: 1.3420/30, 1.3350 and 1.3250/55
Resistance levels: 1.3490/00, 1.3520, 1.3540/50 and 1.3600
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : bullish
Friday trading strategy: long at 1.3650, initial stop at 1.3600, objective at 1.3750. Adjust stop to breakeven on +30 pips (at 1.3680) if reached : 0 (entry not reached)
AUDUSD
Trading strategy: stand aside
The move to .7450 is rather corrective and uptrend may resume if the Aussie dollar manages to climb past the intra-day resistance at .7540/50. Next upside target follows .7440/50 at .7600. Intra-day charts are slightly bullish as the pair regains strength at the time of this writing. Current exchange rate is .7505 @06:03 GMT
Support levels: .7450, .7400 and .7350
Resistance levels: ..7540/50, .7600 and .7700/10
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Friday trading strategy: stand aside
EURCHF
Trading strategy: short at 1.5220, initial stop at 1.5260, objective at 1.5160. Adjust stop to breakeven on +30 pips (at 1.5190) if reached
The euro managed to break out of the 50 points daily range on Friday and rallied against the swiss franc, advancing 140 points from 1.5005 to 1.5145. Current pullback seem corrective and the bullish sentiment will remain intact as long as the euro holds above 1.5060/75 support zone. Key resistance is seen into the 1.5225/30 region and a breach is needed to fully resume uptrend. Current exchange rate is 1.5111 @06:03 GMT
Support levels: 1.5060/75, 1.5000/10, 1.4910/30 and 1.4800
Resistance levels: 1.5145, 1.5175, 1.5200 and 1.5230
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish
Yesterday trading strategy: stand aside
