EURUSD
Trading strategy: short at 1.3140, initial stop at 1.3190, objective at 1.3040. Adjust stop to breakeven on +30 pips (at 1.3110) if reached.
Although it managed to breach above the 1.3 mark on yesterday, the euro had a hard time approaching the 1.3050 zone, intra-day resistance formed around 1.3035 being stable enough to hold on several tests. The 150 points recovery is part of a corrective cycle so far and the decline may resume if the euro doesn’t break above 1.3140 – the median retracement level of the last down leg from 1.3390 to 1.2885. On a potential break above 1.3140, the euro should gather momentum and develop a minor bullish structure, aiming later for objectives into the 1.34-1.35 region. Hourly sentiment is bullish as the resistance into the 1.3030 zone is under pressure at the time of this writing. Upside is likely to remain favored for now. Current exchange rate is 1.3026 @06:15 GMT
Support levels: 1.2990, 1.2960, 1.2890/00, 1.2830 and 1.2750/60.
Resistance levels: 1.3035/50, 1.3085/00, 1.3140 and 1.3185/00.
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : bearish
Yesterday trading strategy: long at 1.2960, initial stop at 1.2910, objective at 1.3085. Adjust stop to breakeven on +30 pips (at 1.2990) if reached : 0 (target/stop not reached)
AUDUSD
Trading strategy: stand aside
The resistance around .7130 is intact but seem to be aimed today and a potential breach will probably open the .7180-.7230 zone for extended gains. Intra-day support is emerging at .7050 and .6970. Daily sentiment remains bearish while holding below .7180. Current exchange rate is .7081 @06:15 GMT
Support levels: .7050, .6970 and .6815/40.
Resistance levels: .7130, .7180 and .7230.
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : slightly bearish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: short at 1.5245, initial stop at 1.5285, objective at 1.5185. Adjust stop to breakeven on +25 pips (at 1.5220) if reached.
Trading by a few points below resistance at 1.5150/60, the euro seem ready to overcome the said barrier and climb towards the 1.52 region, next objective being set at 1.5235. Daily sentiment remains slightly bearish while trading below 1.5300 and the consolidation is likely to continue over the coming days. Potential downside action should face support at 1.5090 then 1.5000/15. Current exchange rate is 1.5145 @06:15 GMT
Support levels: 1.5090, 1.5000/15 and 1.4930.
Resistance levels: 1.5150/60, 1.5235, 1.5300, 1.5350 and 1.5445/50.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: stand aside
