EURUSD
Trading strategy: small short at 1.2685, initial stop at 1.2725, objective at 1.2600. Adjust stop to breakeven on +30 pips (at 1.2655) if reached.
The Euro failed to hold its Friday gains over the weekend and reached lows into the 1.2525 support zone earlier today. First resistance is seen at 1.2625 followed by 1.2685 and 1.2800. Support backs 1.2525 at 1.2420 and 1.2335. Hourly studies are slightly bullish due to the bounce on the 1.2525 support and a rally towards 1.2685/1.2700 is possible, filling the opening gap. Current exchange rate is 1.2589 @07:40 GMT
Support levels: 1.2525, 1.2420 and 1.2335.
Resistance levels: 1.2625, 1.2685 and 1.2800.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : neutral
Friday trading strategy: small long at 1.2645, initial stop at 1.2605, objective at 1.2745. Adjust stop to breakeven on +40 pips (at 1.2685) if reached : 0 (closed at breakeven)
AUDUSD
Trading strategy: stand aside
The downside is under renewed pressure since the support at .6525 couldn’t hold and the Aussie opened lower today. Important support is formed at .6335/40 – last week’s low, backed by .6200 and .6010. On a potential recovery past .6525, the Aussie dollar will face resistance at .6690 and maybe .6790 higher. Current exchange rate is .6495 @07:40 GMT
Support levels: .6425, .6335/40, .6200 and .6010.
Resistance levels: .6525, .6690 and .6790.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bearish
Friday trading strategy: stand aside
EURCHF
Trading strategy: small short at 1.5345, initial stop at 1.5385, objective at 1.5245. Adjust stop to breakeven on +30 pips (at 1.5315) if reached.
The upside remains favored for now and a resume of the uptrend is likely, bringing recent highs into the 1.5200 region on focus. Minor support is seen at 1.5 backed by 1.4940/50 and 1.4750. Resistance follows 1.5200 at 1.5360 and 1.5400. Current exchange rate is 1.5061 @07:40 GMT
Support levels: 1.5, 1.4940/50 and 1.4750.
Resistance levels: 1.5120, 1.5200, 1.5360 and 1.5400.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish
Friday trading strategy: small long at 1.4950, initial stop at 1.4910, objective at 1.5020. Adjust stop to breakeven on +30 pips (at 1.4980) if reached : 0 (entry not reached)
