EURUSD
Trading strategy: stand aside
The Euro is heading back towards support zone at 1.2670 as it failed to hold gains above the 1.2800 mark on yesterday. Downside bias favors further decline especially if the key support at 1.2670 will be cleared out within the upcoming trading sessions. Upside barriers are emerging now at 1.2750/60 followed by 1.2800 and 1.2890. A break above 1.2890 is needed to resume uptrend and renew pressure on the range’s resistance at 1.3100. Daily studies are neutral and the intra-days are bearish at the time of this writing. Current exchange rate is 1.2714 @07:00 GMT
Support levels: 1.2670, 1.2570 and 1.2515.
Resistance levels: 1.2750/60, 1.2800, 1.2890 and 1.2990.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : neutral
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
Daily resistance is seen at .6530/50 and a sustained break may open .6650 but intra-day support at .6450 has to be confirmed first. Below .6450, other support levels are seen at .6390, .6330 and .6245. If .6450 holds, the move from .6550 to .6450 will be confirmed as corrective and uptrend will be expected to resume, aiming towards .6650 later. Short-term sentiment is neutral and the intra-day momentum is slightly bearish. Above .6500, intra-day sentiment turns positive. Current exchange rate is .6472 @07:00 GMT
Support levels: .6450, .6390 and .6330.
Resistance levels: .6530/50, .6590 and .6650/60
Market sentiment: long-term : bearish, mid-term : bearish , short-term : neutral
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
The recovery from 1.4800 to 1.4920 maintains the bullish structure intact although momentum is weak. A break above 1.4930 will encourage further buying with objectives at 1.5010/20 and above, all the way to 1.5150 where a key barrier is formed. Minor support is emerging at 1.4800 backed by 1.4750/60 and 1.4700. Current bullish scenario will fail if support at 1.4800 will be cleared. Intra-day studies are neutral and the dailies are slightly bullish. Current exchange rate is 1.4886 @07:00 GMT
Support levels: 1.4800, 1.4750/60, 1.4700 and 1.4650.
Resistance levels: 1.4930, 1.5010/20, 1.5100 and 1.5150.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish
Yesterday trading strategy: small long at 1.4830, initial stop at 1.4790, objective at 1.4930. Adjust stop to breakeven on +30 pips (at 1.4860) if reached : 0 (stop/target not reached – target missed by 8 pips)
