EURUSD
Trading strategy: stand aside
The euro continued to advance higher on yesterday and gained 220 points, testing offers around 1.3335. Upside is under pressure as the euro manages to maintain a bid tone against the greenback, trading into the 1.3320 region at the time of this writing. While first intra-day support at 1.3220 remains intact, gains may extend past yesterday’s top at 1.3338/40 and next objective will be aimed at 1.3380 then 1.3410. Breaking above 1.3380/1.3410 will open the 1.3550/85 for a later test, on the coming days. Daily sentiment is positive and the bullish structure is being developed. Current exchange rate is 1.3320 @06:10 GMT
Support levels: 1.3220, 1.3150, 1.3090/00, 1.3050 and 1.2965
Resistance levels: 1.3335/40, 1.3380, 1.3410 and 1.3550/85
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : bullish
Yesterday trading strategy: short at 1.3380, initial stop at 1.3430, objective at 1.3280. Adjust stop to breakeven on +30 pips (at 1.3350) if reached : 0 (entry not reached)
AUDUSD
Trading strategy: long at .7140, initial stop at .7090, objective at .7240. Adjust stop to breakeven on +30 pips (at .7170) if reached.
Resistance into the .7300-.7325 zone is on focus today as the Aussie managed to rally from .7070 on yesterday, adding 230 points to its recent gains. Both intra-day and daily studies are positive and support will be faced on potential pullbacks at .7140/70 then .7100, lower. Above .7325, next bullish objective is emerging at .7450. Current exchange rate is .7270 @06:10 GMT
Support levels: .7140/70, .7100, .7065 and .7000
Resistance levels: .7300, .7325, .7400 and .7540
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Recommended trade: stand aside
The euro fails once again to rebound against the swiss franc and trades below the minor resistance at 1.5080 although it got a chance to breach higher on yesterday. While below the 1.5200-1.5250 region, bias will remain on the downside. Current exchange rate is 1.5067 @06:10 GMT
Support levels: 1.5000/10, 1.4910/30 and 1.4800.
Resistance levels: 1.5080, 1.5135, 1.5170, 1.5200 and 1.5235.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: stand aside
