EURUSD
Trading strategy: small long at 1.2700, initial stop at 1.2660, objective at 1.2800. Adjust stop to breakeven on +40 pips (at 1.2740) if reached.
Strengthening across the board, the Euro trades higher versus the greenback, testing resistance at 1.2925/50 on yesterday. A sustained break of the said resistance will suggest further upside action, exiting the monthly range. Support is now formed by the previous resistance region of 1.2810-1.2825 and it is being tested at the time of this report. A pullback below the intraday downside barrier into this area may extend losses towards next important support which is seen at 1.2700, formed by the 50% retracement of the 1.2435-1.2960 upward swing. Daily studies are bullish while the hourlies are bearish at the time of this writing. Current exchange rate is 1.2865 @07:30 GMT
Support levels: 1.2810/25, 1.2700 and 1.2575.
Resistance levels: 1.2925/50, 1.3 and 1.3115.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
The recovery continues and key resistance at .6600 will probably be tested during the upcoming trading sessions, if support into the .6315/40 region holds. The daily momentum is slightly bullish but the hourlies are bearish at the time of this writing, due to the current retracement. Minor interim support is formed by .6390, backed by .6340 and .6255. Resistance starts at .6465 followed by .6550 and .6600. Current exchange rate is .6414 @07:30 GMT
Support levels: .6390, .6340 and .6255.
Resistance levels: .6465, .6550 and .6600.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: small long at 1.5305, initial stop at 1.5265, objective at 1.5365. Adjust stop to breakeven on +30 pips (at 1.5335) if reached.
The upside is on focus as the Euro continues to advance higher, aiming towards the key resistance at 1.5550. Intraday support starts at 1.5400 backed by 1.5335 and 1.5220/30. Resistance is seen at 1.5470 then 1.5550 and 1.5620. Current exchange rate is 1.5431 @07:30 GMT
Support levels: 1.5400, 1.5335 and 1.5220/30.
Resistance levels: 1.5470, 1.5550 and 1.5620.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish
Yesterday trading strategy: small short at 1.5550, initial stop at 1.5590, objective at 1.5450. Adjust stop to breakeven on +30 pips (at 1.5520) if reached : 0 (entry not reached)
