EURUSD
Trading strategy: small short at 1.2635, initial stop at 1.2675, objective at 1.2555. Adjust stop to breakeven on +30 pips (at 1.2605) if reached.
The Euro declined on yesterday after the failed test of the 1.2800 resistance, reaching lows at 1.2470 which is the first intraday support now, backed by 1.2395 and 1.2330/35. Upside barriers are eyed at 1.2575 followed by 1.2635, 1.2700 and 1.2800 higher. Daily momentum is bearish and downtrend may resume, breaking the minor support at 1.2470. Hourly studies are slightly bullish. Current exchange rate is 1.2532 @07:40 GMT
Support levels: 1.2470, 1.2395 and 1.2330/35.
Resistance levels: 1.2575, 1.2635, 1.2700 and 1.2800.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: small short at 1.2965, initial stop at 1.3005, objective at 1.2865. Adjust top to breakeven on +40 pips (at 1.2925) if reached : 0 (entry not reached)
AUDUSD
Trading strategy: stand aside
Downside remains under pressure as the Aussie dollar is currently trading near support into the .6330 region. A sustained break is favored by the bearish sentiment of the daily studies and this will probably extend the decline towards the .6000/10 support. Resistance levels are seen at .6430 then .6510 and .6600, higher. Current exchange rate is .6343 @07:40 GMT
Support levels: .6330, .6190 and .6005
Resistance levels: .6425, .6510 and .6600.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: small short at 1.5385, initial stop at 1.5425, objective at 1.5285. Adjust stop to breakeven on +30 pips (at 1.5355) if reached
Daily sentiment remains bullish but yesterday’s retracement after establishing a higher high into the 1.53 zone suggests that upside barriers are strong and large rallies are expected to be sold. Support into the 1.5100 region is intact, backed by 1.5000 lower. The said support levels will maintain an upside bias while they remain intact. Interim resistance is seen at 1.5230 followed by 1.5330/50 and 1.5400. Current exchange rate is 1.5172 @07:40 GMT
Support levels: 1.5100, 1.5000, 1.4940/50 and 1.4750.
Resistance levels: 1.5230, 1.5330/50 and 1.5400.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish
Yesterday trading strategy: small short at 1.5385, initial stop at 1.5425, objective at 1.5285. Adjust stop to breakeven on +30 pips (at 1.5355) if reached : 0 (entry not reached)
