EURUSD
Trading strategy: small long at 1.3940, initial stop at 1.3890, objective at 1.4040. Adjust stop to breakeven on +30 pips (at 1.3970) if reached
Intra-day resistance is being tested at 1.3935/50 and a breach above should open the 1.4000 handle for a later test. Daily sentiment remains slightly bearish and a break of 1.4050 is required to signal a meaningful change in momentum. While below 1.4050, downside action is favored and the attempts on climbing higher will most likely face solid selling orders, limiting the gains. South of current exchange rate of 1.3925, support starts at 1.3880, backed by 1.3830 and 1.3750 lower. Intra-day momentum is positive and will remain intact as long as 1.3880 provides support. Current exchange rate is 1.3930 @06:15 GMT
Support levels: 1.3880, 1.3830 and 1.3730/50
Resistance levels: 1.3935/50, 1.4000, 1.4030/50 and 1.4100
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: small short at .7940, initial stop at .7990, objective at .7880. Adjust stop to breakeven on +30 pips (at .7910) if reached
The Aussie tries to stabilize above .7760 – 61.8% fibonacci retracement of the .7450-.8260 move. First upside barrier is seen at .7820 followed by another resistance at .7880/00, .7915 and a more notable one at .7950/60. Although downside is under pressure, intra-day price action suggests an extended recovery which could aim the .7950/60 resistance. On the downside, support starts at .7750 backed by .7700/20 and .7625/50. Current exchange rate is .7809 @06:15 GMT
Support levels: .7750/60, .7700/20 and .7625/50
Resistance levels: .7820, .7880/00, .7915 and .7950/60
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
Yesterday trading strategy: small long at .7770, initial stop at .7720, objective at .7850. Adjust stop to breakeven on +30 pips (at .7800) if reached : 0 (closed at breakeven)
EURCHF
Trading strategy: stand aside
Resistance is being tested now at 1.5150 as the euro tries to recover some of its losses. Daily average range remains very low – around 50 points. Short term studies are negative. Current exchange rate is 1.5142 @06:15 GMT
Support levels: 1.5100, 1.5050 and 1.5000/10
Resistance levels: 1.5150, 1.5200 and 1.5235/50
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
Yesterday trading strategy: stand aside
