EURUSD
Trading strategy: stand aside
The Euro continues to consolidate below the 1.3515 resistance but a potential break higher could initiate a recovery towards the mid 1.37 region within the next trading sessions. The daily sentiment remains bearish while the hourly momentum is slightly bulish at the time of this report. Support is seen at 1.3440 and 1.3400, 1.3350 lower. Resistance starts at 1.3500/15 followed by 1.3540 and 1.3600. Current exchange rate is 1.3490 @06:30 GMT
Support levels: 1.3440, 1.3400 and 1.3350.
Resistance levels: 1.3500/15, 1.3540 and 1.3600.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Friday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
The Aussie recovered some of its recent losses since the breach below the .7240 mark but the downside remains under pressure although current daily studies are modestly pointing to the upside. If the current recovery continues, the Aussie will face important resistance into the .7100-.7240 region. Intraday support is seen at .6920 backed by .6820 and .6730. Resistance starts at .7015 followed by .7085 and .7135. Current exchange rate is .6990 @06:30 GMT
Support levels: .6920, .6820 and .6730.
Resistance levels: .7015, .7085 and .7135.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish
Friday trading strategy: small short at .7200, initial stop at .7240, objective at .7100. Adjust stop to breakeven on +40 pips (at .7160) if reached : 0 (entry not reached)
EURCHF
Trading strategy: small short at 1.5420, initial stop at 1.5460, objective at 1.5370. Adjust stop to breakeven on +30 pips (at 1.5390) if reached
While support at 1.5230 remains intact, a move to 1.5425 is likely. Intraday studies are bullish but the dailies remain bearish. Minor resistance is seen at 1.5335 then 1.5375 and 1.5425. Support starts at 1.5230 backed by 1.5150 and 1.5075. Current exchange rate is 1.5313 @06:30 GMT
Support levels: 1.5230, 1.5150 and 1.5075.
Resistance levels: 1.5335, 1.5375 and 1.5425.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Friday trading strategy: small short at 1.5440, initial stop at 1.5480, objective at 1.5370. Adjust stop to breakeven on +30 pips (at 1.5410) if reached : 0 (entry not reached)
