EURUSD
Trading strategy: stand aside
Support into the 1.2540/50 zone is on focus today as the Euro failed to hold above the 1.27 mark. Both intra-day and daily studies are bearish and a break below 1.2540/50 could extend losses towards 1.2330 which is a medium term downside barrier. On the upside, resistance emerges at 1.2700 followed by 1.2800 and 1.2890. Further decline is favored while trading below 1.2890. Current exchange rate is 1.2601 @07:30 GMT
Support levels: 1.2540/50, 1.2400 and 1.2330.
Resistance levels: 1.2700, 1.2800 and 1.2890.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: small short at 1.2890, initial stop at 1.2930, objective at 1.2790. Adjust stop to breakeven on +30 pips (at 1.2860) if reached : 0 (entry not reached)
AUDUSD
Trading strategy: stand aside
The break below .6475 daily support on yesterday favors current decline into the .6350 region and key support emerges at .6250. Both hourly and short-term studies are bearish. The Aussie Dollar will face resistance on potential rallies at .6475 then .6580 and .6660. Current exchange rate is .6379 @07:30 GMT
Support levels: .6350/60, .6300 and .6250.
Resistance levels: .6475, .6580 and .6660.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: small short at 1.4950, initial stop at 1.4980, objective at 1.4860. Adjust stop to breakeven on +30 pips (at 1.4920) if reached.
Short-term support into the 1.4815 region is currently under pressure and a potential break will favor further losses to 1.4750 or lower, to 1.2650. On the upside, resistance starts at 1.4900 followed by 1.4950 and 1.5025/50. The daily studies are bearish while hourly momentum is neutral at the time of this writing. Current exchange rate is 1.4840 @07:30 GMT
Support levels: 1.4800/15,1.4745 and 1.4650.
Resistance levels: 1.4900, 1.4950 and 1.5025/50.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: stand aside
