EURUSD
Trading strategy: long at 1.3880, initial stop at 1.3830, objective at 1.3950. Adjust stop to breakeven on +30 pips (at 1.3910) if reached
The euro continued to advance higher against the dollar on Friday, closing the week around the 1.4000 handle. The 600 points weekly gain confirms the medium term positive sentiment and the first bullish objective is seen into the 1.4185-1.4240 region, projection which may be reached within the upcoming days. On the downside, potential pullbacks may extend towards the 1.3730/50 support zone without affecting the current bullish structure. Intra-day support is formed at 1.3940 backed by 1.3900, 1.3800 and 1.3730/50. Current exchange rate is 1.3987 @04:00 GMT
Support levels: 1.3940, 1.3900, 1.3800 and 1.3730/50
Resistance levels: 1.4050, 1.4100, 1.4185 and 1.4240
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Friday trading strategy: long at 1.3790, initial stop at 1.3740, objective at 1.3870. Adjust stop to breakeven on +30 pips (at 1.3820) if reached : 0 (entry not reached)
AUDUSD
Trading strategy: stand aside
Solid resistance is seen into the .7930-.8000 region and a breach above the said barrier will change the long-term sentiment which is still bearish. A test of the said resistance region is possible within the next days. Intra-day support is emerging at .7750 and lower at .7670 and .7600. Current exchange rate is .7777 @04:00 GMT
Support levels: .7750, .7670 and .7600
Resistance levels: .7800, .7850/60 and .7930
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Friday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
The resistance at 1.5225/30 formed by the 50% retracement of the 1.5445-1.5005 move has limited the upside for now but the daily sentiment remains positive as long as the euro holds above the 1.5070/80 support zone. Below the said support, downtrend will resume – the climb to 1.5225/30 being corrective. Current exchange rate is 1.5186 @04:00 GMT
Support levels: 1.5135, 1.5100, 1.5050/75 and 1.5000/10
Resistance levels: 1.5225/30, 1.5300 and 1.5350
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish
Friday trading strategy: stand aside
