EURUSD
Trading strategy: long at 1.3890, initial stop at 1.3840, objective at 1.3960. Adjust stop to breakeven on +30 pips (at 1.3920) if reached
The euro is currently trading slightly lower than yesterday but the downside action is rather corrective, uptrend being expected to resume after confirming support – maybe into the 1.38 region. Intra-day studies are slightly bearish and support is emerging at 1.3940 backed by 1.3890/00 and 1.3850 lower. Resistance starts at 1.4000 followed by 1.4050 and more notable barriers at 1.4185 and 1.4240. Current exchange rate is 1.3972 @04:20 GMT
Support levels: 1.3940, 1.3900, 1.3800 and 1.3730/50
Resistance levels: 1.4000, 1.4050, 1.4100, 1.4185 and 1.4240
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: long at 1.3880, initial stop at 1.3830, objective at 1.3950. Adjust stop to breakeven on +30 pips (at 1.3910) if reached : 0 (entry not reached)
AUDUSD
Trading strategy: long at .7670, initial stop at .7620, objective at .7740. Adjust stop to breakeven on +30 pips (at .7700) if reached
Support has been found on today’s pullback at .7750 and the Aussie dollar currently holds its gains 20 points below the .7800 mark. A breach above .7850 is needed to confirm that uptrend resumed. While below the said level, an extended pullback may aim towards .7670. Intra-day studies are bearish at the time of this writing. Current exchange rate is .7777 @04:20 GMT
Support levels: .7750, .7670 and .7600
Resistance levels: .7800, .7850/60 and .7930
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
The pair trades quietly above the first support at 1.5150 and below the important resistance of 1.5225/30. A break above the said level is needed to confirm the uptrend and preferably increase the average daily range which is currently set around 65 points. Current exchange rate is 1.5175 @04:20 GMT
Support levels: 1.5150, 1.5100, 1.5050/75 and 1.5000/10
Resistance levels: 1.5225/30, 1.5300 and 1.5350
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish
Yesterday trading strategy: stand aside
