EURUSD Trading strategy: small long at 1.5588, initial stop at 1.5548, objective at 1.5648. Adjust stop to breakeven on +30 pips (at 1.5618) if reached. The decline continued on yesterday and the Euro reached lows into the 1.5670 region, testing the 50% retracement of the 1.5302-1.6038 move. Short term sentiment is bearish but if the support at 1.5670 holds, a pullback towards 1.5750/60 is possible. Minor resistance is seen at 1.5700 followed by 1.5750/60 and 1.5810 which should cap the upside for now. Current exchange rate is 1.5682 @06:20 GMT Support levels: 1.5670, 1.5610 and 1.5585 Yesterday trading strategy: small short at 1.5850, initial stop at 1.5890, objective at 1.5800. Adjust stop to breakeven on +30 pips (at 1.5820) if reached : 0 (entry not reached) AUDUSD Trading strategy: small long at .9490, initial stop at .9460, objective at .9540. Adjust stop to breakeven on +30 pips (at .9520) if reached. Recent break of the key support into the .9665 region is bearish for the Aussie and the decline may extend towards trendline support into the .9560 region. Below .9560, support is also seen at .9480 while on the upside, resistance is formed at .9600 and .9660/65. Current exchange rate is .9575 @06:20 GMT Support levels: .9560, .9530 and .9480. Yesterday trading strategy: stand aside EURCHF Trading strategy: stand aside The 1.63 zone is on focus and a potential break may open 1.6375. Support starts at 1.6240 backed by 1.6205 and 1.6160. Resistance is seen at 1.6300 followed by 1.6345 and 1.6375. Both daily and intraday studies are bullish but a pullback is likely. Current exchange rate is 1.6290 @06:20 GMT Support levels: 1.6240/50, 1.6205 and 1.6160. Yesterday trading strategy: small long at 1.6210, initial stop at 1.6175, objective at 1.6260. Adjust stop to breakeven on +30 pips (at 1.6240) if reached : 0 (entry not reached)
Resistance levels: 1.5700, 1.5750/60 and 1.5810.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bearish
Resistance levels: .9600, .9665 and .9700.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bearish.
Resistance levels: 1.6300/10, 1.6345 and 1.6375.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bullish
Thursday 07.24.2008
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