EURUSD
Trading strategy: long at 1.3690, initial stop at 1.3640, objective at 1.3770. Adjust stop to breakeven on +30 pips (at 1.3720) if reached
The euro finally managed to climb above resistance zone of 1.3725/40 and extended its gains to as high as 1.3830 on yesterday’s 245 points rally. Former resistance levels at 1.3725/40 and 1.3660/70 may provide support on potential pullbacks. If the euro will manage to holds its gains above the said support levels, renewed buying should favor a sustained break above notable resistance at 1.3850/55 – 61.8% of 1.4720-1.2455, providing the green light for the bullish objective at 1.4200/25 within the next 3 weeks or so. Both daily and intra-day studies are bullish. Current exchange rate is 1.3787 @06:16 GMT
Support levels: 1.3725/40, 1.3660/70 and 1.3600
Resistance levels: 1.3830/55, 1.3900 and 1.4000
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
Seem that .7800 provides a minor resistance but as long as the Aussie holds above the .7700 mark, a breach above .7800 is inevitable. Below .7700, momentum will lose strength and an extended pullback may advance to .7600/15. Both hourly and short term studies are positive and a breach above .7800 will open .7925 – key resistance formed by the 50% retracement of the full decline from .9850 to .6005. Also, 3 years – 2004 to 2007 top side is formed into the .7925-.8000 region, so the Aussie may face a decent resistance zone soon. Above the .8000 mark, long term momentum turns positive. Current exchange rate is .7780 @06:16 GMT
Support levels: .7650/60, .7615 and .7550/75
Resistance levels: .7730, .7780/00 and .7930
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: long at .7585, initial stop at .7535, objective at .7655. Adjust stop to breakeven on +30 pips (at .7515) if reached : 0 (entry not reached)
EURCHF
Trading strategy: stand aside
The euro is slowly advancing higher vs. the swiss franc and aims towards the 1.5225/30 resistance – 50% of the 1.5445-1.5005 decline. Both daily and intra-day studies are bullish and support is emerging at 1.5135 backed by 1.5100 and 1.5050. Current exchange rate is 1.5165 @06:16 GMT
Support levels: 1.5135, 1.5100, 1.5050/60 and 1.5000/10
Resistance levels: 1.5175, 1.5200 and 1.5230
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish
Yesterday trading strategy: stand aside
