EURUSD
Trading strategy: stand aside
The recovery continues and the Euro managed to break the 1.3 barrier, advancing higher to 1.33 before giving back some gains. Daily momentum is slightly bullish now, while holding above 1.3. Resistance is seen at 1.3300 followed by 1.3450 and 1.3600. Support starts at 1.3100 backed by 1.3 and 1.2850. Intraday studies are highly bullish at the time of this writing. While the extreme volatility sets daily ranges of 350 to 500 points, trading “for pips” is far from being a good idea. On a daily basis, the recovery is likely to extend towards 1.3450 and 1.3600 where important resistance is seen – the 50% retracement of the 1.4865-1.2330 move. Current exchange rate is 1.3216 @07:35 GMT
Support levels: 1.3100, 1.3 and 1.2850.
Resistance levels: 1.3300, 1.3450 and 1.3600.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish
Yesterday trading strategy: small short at 1.3040, initial stop at 1.3080, objective at 1.2940. Adjust stop to breakeven on +30 pips (at 1.3010) if reached: -40 pips
AUDUSD
Trading strategy: stand aside
Positive momentum gains strength as the Aussie rallies towards the .7000-.7060 resistance zone. Support is currently seen at .6800 backed by .6600 and .6430/50. Resistance starts at .6990/00 followed by .7060, .7130 and .7265. Both daily and intraday studies are bullish. Current exchange rate is .6853 @07:35 GMT
Support levels: .6800, .6600 and .6430/50.
Resistance levels: .6990/00, .7060, .7130 and .7265.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
Resistance into the mid 1.48 region is currently under pressure and a potential break will open 1.4910 for a new test and maybe 1.5050 higher. Support starts at 1.4780 backed by 1.4675 and 1.4550. Intraday studies are bullish while the dailies remain bearish but an assault of 1.5050 may signal a change on the short term momentum. Upside is favored while holding above 1.4780. Current exchange rate is 1.4850 @07:35 GMT
Support levels: 1.4780, 1.4675 and 1.4550.
Resistance levels: 1.4850, 1.4910 and 1.5050.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: stand aside
