EURUSD
Trading strategy: stand aside
The Euro backed off from resistance at 1.2990 and found intra-day support at 1.2670. Resistance starts now at 1.2810/30 followed by 1.2900 and 1.2990/00. Support is seen at 1.2670 backed by 1.2570 and 1.2515. Daily momentum has lost strength and it is slightly negative as the Euro has failed to hold above the 1.2800 mark on yesterday. A recovery may be signaled on a break above 1.2830 but key resistance into the 1.3075/90 region is expected to limit the upside for now. Current exchange rate is 1.2721 @07:05 GMT
Support levels: 1.2670, 1.2570, 1.2515 and 1.2330.
Resistance levels: 1.2810/30, 1.2900, 1.2990 and 1.3075/90.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
Resistance at .6530 has to be cleared out in order to start building a bullish structure. While trading below the said barrier, downside bias will favor selling potential rallies for objectives into the .6330 region and below. Hourly sentiment is bullish at the time of this writing. Current exchange rate is .6441 @07:05 GMT
Support levels: .6390, .6330, .6300 and .6250.
Resistance levels: .6480, .6530 and .6650/60.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bearish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: small short at 1.5020, initial stop at 1.5060, objective at 1.4950. Adjust stop to breakeven on +30 pips (at 1.5990) if reached
Although it could not hold gains above 1.4900 on yesterday, the EUR maintains its bid tone against the Swiss Franc while support into the 1.4800/15 zone holds. A resume of the uptrend may occur, re-testing 1.4950 but the lack of strength will make it difficult to breach the 1.5010/20 barrier. On the downside, support backed 1.4800/15 at 1.4750, 1.4700 and 1.4650. Intra-day studies are positive while the daily momentum is neutral. Current exchange rate is 1.4856 @07:05 GMT
Support levels: 1.4800/15, 1.4750/60, 1.4700 and 1.4650.
Resistance levels: 1.4900, 1.4950 and 1.5010/20.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : neutral
Yesterday trading strategy: small short at 1.5020, initial stop at 1.5060, objective at 1.4950. Adjust stop to breakeven on +30 pips (at 1.5990) if reached : 0 (entry not reached)
