EURUSD
Trading strategy: long at 1.3510, initial stop at 1.3460, objective at 1.3610. Adjust stop to breakeven on +30 pips (at 1.3540) if reached
Minor intra-day resistance formed by a downward trend line extended through last days highs is currently limiting the upside into the 1.3580 region. A breach above the said level should open 1.3660 for a later test and maybe 1.3725/35 top side zone. Both daily and intra-day studies are bullish and potential pullbacks should not extend losses below the 1.3485-1.3500 support zone in order to maintain the positive sentiment. Current exchange rate is 1.3552 @06:02 GMT
Support levels: 1.3485/00, 1.3420/30, 1.3350 and 1.3250/55
Resistance levels: 1.3580, 1.3650/60 and 1.3725/35
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : bullish
Yesterday trading strategy: short at 1.3590, initial stop at 1.3640, objective at 1.3505. Adjust stop to breakeven on +30 pips (at 1.3560) if reached : 0 (entry not reached)
AUDUSD
Trading strategy: long at .7690, initial stop at .7640, objective at .7770. Adjust stop to breakeven on +30 pips (at .7720) if reached
The top side at .7700/10 is again on focus as the Aussie dollar has recovered its recent pullback losses on yesterday’s 215 points rally. Momentum is bullish on both hourly and daily charts and a breach above .7700 seem possible within the next trading sessions. Downside action may be limited by support into the .7600 region or below, on exteded pullbacks, around .7550. Current exchange rate is .7661 @06:02 GMT
Support levels: .7600, .7550 and .7500
Resistance levels: .7700/10, .7750 and .7800
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: short at 1.5220, initial stop at 1.5260, objective at 1.5160. Adjust stop to breakeven on +30 pips (at 1.5190) if reached
Friday’s rally could have been a range breakout false alarm as the pair is again trading quietly into the 50 points daily range. Extended gains above yesterday’s top into the 1.5150 zone may aim higher towards key resistance at 1.5230 which will probably limit the upside for now. Current exchange rate is 1.5115 @06:02 GMT
Support levels: 1.5060/75, 1.5000/10, 1.4910/30 and 1.4800
Resistance levels: 1.5145, 1.5175, 1.5200 and 1.5230
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish
Yesterday trading strategy: short at 1.5220, initial stop at 1.5260, objective at 1.5160. Adjust stop to breakeven on +30 pips (at 1.5190) if reached : 0 (entry not reached)
