EURUSD
Trading strategy: long at 1.3790, initial stop at 1.3740, objective at 1.3855. Adjust stop to breakeven on +30 pips (at 1.3820) if reached
The 1.3900 mark is under pressure at the time of this writing and both intra-day and short-term studies are bearish, price action suggesting a potential breach below 1.3880/00 – which may extend lower towards next support at 1.3830. Upside barriers are seen at 1.4000 followed by 1.4030/50 and 1.4100. A clear break above 1.4030/50 would turn short-term momentum positive. However, even if 1.4030/50 will be cleared, important resistance is formed into the 1.4150 region by a downward trend line which covers previous highs at 1.4340 and 1.4200. Current exchange rate is 1.3902 @06:10 GMT
Support levels: 1.3880/00, 1.3830 and 1.3730/50
Resistance levels: 1.4000, 1.4030/50 and 1.4100
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
Friday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
The Aussie trades on a fragile ground around .7750 at the time of this report, supported by a downward trend line started at .7825 on June 8. Both hourly and daily studies are negative, downside being favored while the pair trades below .7850. On a medium term basis, current move is corrective and important support is formed at .7605 by the 50% retracement of the .6950-.8260 move. Current exchange rate is .7732 @06:10 GMT
Support levels: .7700/20 and .7600/05
Resistance levels: .7830, .7880/00, .7915 and .7950/60
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
Friday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
Support on the 1.5100 mark is intact and the euro tries to recover some of its recent losses. Resistance starts at 1.5170 followed by 1.5200 and 1.5235/50. Above 1.5235/50 – uptrend may resume. Daily trading range remains low – averaging 55 points / day. Current exchange rate is 1.5138 @06:10 GMT
Support levels: 1.5100, 1.5050 and 1.5000/10
Resistance levels: 1.5170, 1.5200 and 1.5235/50
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
Friday trading strategy: stand aside
