EURUSD
Trading strategy: stand aside
The euro is currently recovering some of its losses after losing another 130 points on yesterday, reaching lows into the 1.2885 area. Downside is likely to remain under pressure and extended rallies will probably be limited by upside barriers into the 1.3020 zone then higher, at 1.3100. Current exchange rate is 1.2935 @06:20 GMT
Support levels: 1.2870/90, 1.2800 and 1.2700.
Resistance levels: 1.3020, 1.3100/10 and 1.3200.
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : bearish
Yesterday trading strategy: short at 1.3115, stop at 1.3165, objective at 1.3015. Adjust stop to breakeven on +30 pips (at 1.3085) if reached : 0 (entry not reached)
AUDUSD
Trading strategy: stand aside
Support at .6980 formed by the 61.8% retracement of the .6765-.7325 move has been reached on yesterday’s decline. Short-term studies are bearish as the aussie dollar has failed to hold into the top side above .7200. Intra-day resistance is seen at .7050 followed by .7140/50. Current exchange rate is .7007 @06:20 GMT
Support levels: .6980, .6815 and .6700.
Resistance levels: .7050, .7140/50 and .7200.
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
Friday’s gains to as high as 1.5235 have been cleared on yesterday as the euro collapsed against the swiss franc. Support is formed into the 1.5060-1.5090 region and a potential break may aim towards next bearish objectives at 1.5010 and 1.4910. Current exchange rate is 1.5115 @06:20 GMT
Support levels: 1.5060/90, 1.5010/15 and 1.4910.
Resistance levels: 1.5130, 1.5180 and 1.5235/50.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: long at 1.5150, initial stop at 1.5110, objective at 1.5220. Adjust stop to breakeven on +30 pips (at 1.5180) if reached : -40 pips
