EURUSD
Trading strategy: [hidepost]small long at 1.3970, initial stop at 1.3920, objective at 1.4070. Adjust stop to breakeven on +30 pips (at 1.4000) if reached[/hidepost]
The euro is back on the upper territory after visiting the lower zone near the 1.3900 mark on yesterday’s slide, after the failed attempt on breaking the 1.4000 resistance. Current recovery suggests further upside action in case 1.4000 breaks this time and objectives are seen higher at 1.4050/75 and 1.4135/50. Intra-day sentiment is bullish and will remain intact while holding above the 1.3965 open price. Momentum is neutral on the daily charts but will turn positive on a sustained breach above 1.4000. Upside remains slightly favored for now, as the euro got a new chance to test the upside. Current exchange rate is 1.4015 @06:10 GMT
Support levels: 1.3950/60, 1.3880/00, 1.3830 and 1.3730/50
Resistance levels: 1.4000, 1.4050/75 and 1.4135/50
Market sentiment: long-term : bearish, mid-term : bullish, short-term : neutral
Yesterday trading strategy: small long at 1.4010 on break of 1.4000, initial stop at 1.3960, objective at 1.4110. Adjust stop to breakeven on +30 pips (at 1.4040) if reached : 0 (entry condition not met)
AUDUSD
Trading strategy: stand aside
The Aussie dollar managed to climb above the .7900 mark on yesterday and next objective is seen at .8080 – formed by a downward trend line covering recent tops, forming the upper limit of the downtrend channel seen on the daily charts. Short term studies are turning bullish – a break of .7980 being required. Intra-day sentiment is positive and support starts at .7875/80 backed by .7800 and .7720. The upside objectives above .8000 are likely to remain on focus for now – if .7875 holds on potential pullbacks. Current exchange rate is .7947 @06:10 GMT
Support levels: .7875/80, .7800, .7700/20 and .7600/05
Resistance levels: .7980/00, .8080 and .8150/55
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
The resistance formed by 1.5170 has been breached on yesterday as the trading range has been increased by 25 points above the average 60 points / day. A pullback is underway and it may continue towards 1.5170, to test support. Short term studies are positive and important resistance is seen at 1.5230. A breach of 1.5230 would confirm the uptrend. Current exchange rate is 1.5200 @06:10 GMT
Support levels: 1.5170, 1.5100, 1.5050 and 1.5000/10
Resistance levels: 1.5235/50, 1.5300 and 1.5350
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish
Yesterday trading strategy: stand aside
