EURUSD
Trading strategy: stand aside
Friday’s minor recovery of the Euro doesn’t suggest that an uptrend resume is underway as the resistance into the 1.5750 region could not be cleared and above 1.5750 there’s key resistance also into the 1.5790 zone. A potential break above the second mentioned barrier will confirm the resume of the uptrend and bring the recent highs at 1.5900 and 1.5945 on focus. Support is currently formed at 1.5670 and 1.5625. The hourly studies are neutral at the time of this writing while the dailies are bearish. Current exchange rate is 1.5695 @06:15 GMT
Support levels: 1.5670, 1.5625/30 and 1.5585
Resistance levels: 1.5750/60, 1.5790 and 1.5825.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bearish
Friday trading strategy: small long at 1.5690, initial stop at 1.5650, objective at 1.5740. Adjust stop to breakeven on +30 pips (at 1.5720) if reached : +50 pips
AUDUSD
Trading strategy: small long at .9467, initial stop at .9432, objective at .9517. Adjust stop to breakeven on +30 pips (at .9497) if reached.
Previous key support into the .9570 failed to hold and the Aussie slipped towards the 61.8% retracement of the .9327-.9849 move at .9526. If support at .9526 holds, a pullback towards .9590 or .9650 will be possible during the upcoming sessions. Else, the Aussie may test bids into the medium term support zone at .9475. Both daily and hourly studies are bearish. Current exchange rate is .9551 @06:15 GMT
Support levels: .9525, .9500 and .9475/80
Resistance levels: .9555, .9590 and .9650.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bearish
Friday trading strategy: small short at .9665, initial stop at .9700, objective at .9615. Adjust stop to breakeven on +30 pips (at .9635) if reached : 0 (entry not reached)
EURCHF
Trading strategy: stand aside
Resistance at 1.6300 still holds after 5 days since the initial test while support is formed at 1.6225 and lower, at 1.6160. Daily sentiment is bullish while intraday studies are slightly bearish at the time of this writing. Interim support at 1.6270 is on focus. Current exchange rate is 1.6274 @06:15 GMT
Support levels: 1.6270, 1.6225 and 1.6160
Resistance levels: 1.6300 and 1.6375.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bullish
Friday trading strategy: stand aside
