EURUSD
Trading strategy: stand aside
The Euro continues to trade around the 1.5850 mark into a tight range of 80 points, looking for direction. Important support is formed around 1.5820 backed by 1.5790 and 1.5750. Resistance is emerging at 1.5885/90 followed by 1.5930. Short term studies are slightly bullish but a potential break below the 1.5820 initial support could hurt the bullish momentum and extend losses towards the 1.5750 mark. On the upside, a full break of 1.5930 will confirm the uptrend. Current exchange rate is 1.5856 @06:30 GMT
Support levels: 1.5820, 1.5785/90, 1.5750.
Resistance levels: 1.5885/90, 1.5930, 1.5950 and 1.6020/40.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : slightly bullish
Friday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
The Aussie is currently facing resistance into the .9760 area which will confirm the uptrend if it fails to hold. Daily studies are bullish and will remain so while the key support into the .9665/75 zone remains intact. Resistance emerges at .9800 followed by the recent high at .9850. Current exchange rate is .9760 @06:30 GMT
Support levels: .9705, .9665/75 and .9640/50.
Resistance levels: .9800 and .9850.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bullish
Friday trading strategy: stand aside
EURCHF
Trading strategy: small short at 1.6295, initial stop at 1.6335, objective at 1.6245. Adjust stop to breakeven on +30 pips (at 1.6265) if reached.
Important resistance is formed into the 1.6215 zone and it is being tested now, followed by 1.6240 and 1.6300. A potential break of the initial resistance at 1.6215 could encourage further gains towards 1.6300 today while on the downside, support starts at 1.6200 backed by 1.6150. Both intraday and short term studies are bullish. Current exchange rate is 1.6214 @06:30 GMT
Support levels: 1.6200, 1.6150 and 1.6105.
Resistance levels: 1.6215/25, 1.6240 and 1.6300.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bullish
Friday trading strategy: stand aside
