EURUSD
Trading strategy: small short at 1.3400, initial stop at 1.3440, objective at 1.3330. Adjust stop to breakeven on +30 pips (at 1.3370) if reached.
Downtrend resumed as the Euro closed lower on yesterday, bringing the 1.3250/60 support on focus. Minor resistance is seen at 1.3350 followed by 1.3400 and 1.3500/30. While below the 1.3400 resistance, the decline may extend towards 1.3250/60 and below. A potential breach of 1.3250/60 opens 1.2860/70 support region – 2007 lows. Current exchange rate is 1.3320 @06:38 GMT
Support levels: 1.3290, 1.3250/60 and 1.3200.
Resistance levels: 1.3350, 1.3400, 1.3500/15.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
The Aussie trades above the support at .6880 and the daily momentum may turn positive on a sustained break of .7100. Near term support is seen at .6880 then .6730 and .6550. Resistance starts at .7065 followed by .7100 and .7240. Intraday studies are bearish at the time of this report. Current exchange rate is .6924 @06:38 GMT
Support levels: .6880, .6730 and .6550.
Resistance levels: .7065, .7100 and .7240.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: small short at 1.5420, initial stop at 1.5460, objective at 1.5370. Adjust stop to breakeven on +30 pips (at 1.5390) if reached
The upside remains on focus as the Euro holds its gains but the resistance at 1.5425 will probably limit the upside for now. Support is seen at 1.5300 backed by 1.5230 and 1.5150 while resistance starts at 1.5375 followed by 1.5425 and 1.5470. Daily momentum remains bearish while the intraday studies are slightly bullish. Current exchange rate is 1.5330 @06:38 GMT
Support levels: 1.5300, 1.5230 and 1.5150.
Resistance levels: 1.5375, 1.5425 and 1.5470.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: small short at 1.5420, initial stop at 1.5460, objective at 1.5370. Adjust stop to breakeven on +30 pips (at 1.5390) if reached : 0 (entry not reached)
