EURUSD
Trading strategy: stand aside
Downside is under pressure as the euro failed to hold recent gains and declined, erasing most of last week’s gains. Minor support is formed around the 1.3000 mark, backed by more relevant barriers at 1.2950 – 61.8% of the 1.2455-1.3735 upward move – then 1.2885 – monthly bottom. Both intra-day and daily studies are bearish and the euro has to climb past 1.3100 in order to confirm that uptrend may resume. Current exchange rate is 1.3015 @06:15 GMT
Support levels: 1.3000, 1.2950 and 1.2885
Resistance levels: 1.3100, 1.3150/80 and 1.3250
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : slightly bullish
Yesterday trading strategy: long at 1.3085, initial stop at 1.3035, objective at 1.3185. Adjust stop to breakeven on +30 pips (at 1.3115) if reached : -50 pips
AUDUSD
Trading strategy: stand aside
Important short-term support is formed into the .6950-6980 region – previous week’s bottom along with the 61.8% retracement of the .6780-.7325 up leg. Daily momentum remains bearish while downside action intensifies and the pair fails to advance past the .7200 mark. A potential break below the said support zone of .6950-.6980 will probably favor losses toward .6805-.6850. Hourly sentiment is negative too and the aussie will face resistance on potential rallies at .7115 and .7200. Current exchange rate is .7022 @06:15 GMT
Support levels: .6950/80, .6815/40 and .6850
Resistance levels: .7115, .7200/25 and .7325
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : slightly bearish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
The euro trades on a fragile ground against the swiss franc, only 50 points away from a key support formed at 1.5000/10. Daily sentiment remains bearish for now and a break above 1.5200 is needed to resume uptrend. On the downside, a break below 1.5000/10 should encourage a fast decline to 1.4910 which is the enxt bearish objective. Current exchange rate is 1.5058 @06:15 GMT
Support levels: 1.5000/10, 1.4910/30 and 1.4800.
Resistance levels: 1.5080, 1.5135, 1.5170, 1.5200 and 1.5235.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: stand aside
