EURUSD
Trading strategy: stand aside
The Euro resumed the decline on Friday, falling to fresh lows into the 1.2495/00 region. Key support is seen into the 1.2450/70 zone, formed by a bottom of 2006 and the decline should accelerate fast if the said support won’t hold. On the upside, resistance emerges at 1.2660 followed by 1.2745 and 1.2830. Both daily and intraday studies are bearish. Current exchange rate is 1.2478 @07:15 GMT
Support levels: 1.2495, 1.2450/70 and 1.2400.
Resistance levels: 1.2660, 1.2745 and 1.2830.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Friday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
The downside is under pressure since the support at .6340 has been cleared. Minor intraday support is eyed at .6050/60 backed by the .6000 handle which should provide a psychological barrier. Next important bearish objective is seen at .5820. Resistance is seen at .6250 followed by .6340 and .6445. Current exchange rate is .6071 @07:15 GMT
Support levels: .6050/60, .6000 and .5820.
Resistance levels: .6250, .6340 and .6445.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish
Friday trading strategy: stand aside
EURCHF
Trading strategy: small short at 1.4790, initial stop at 1.4830, objective at 1.4720. Adjust stop to breakeven on +30 pips (at 1.4760) if reached.
Although the Euro has recovered some of its losses after reaching lows at 1.4410 on Friday, the decline resumed as it failed to hold above the 1.4720 handle. While trading into the 1.45 region, the support at 1.4410 is on focus and a new test may occur. Resistance starts at 1.4650 followed by 1.4720/25 and 1.4790. Both daily and hourly studies are bearish. Current exchange rate is 1.4568 @07:15 GMT
Support levels: 1.4535, 1.4500 and 1.4410.
Resistance levels: 1.4650, 1.4720/25 and 1.4790.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Friday trading strategy: stand aside
