EURUSD
Trading strategy: small short at 1.5850, initial stop at 1.5890, objective at 1.5800. Adjust stop to breakeven on +30 pips (at 1.5820) if reached.
The Euro declined on yesterday, testing bids into the 1.5760 zone. The failure to take out the resistance into the 1.5930/35 region along with the daily close below weekly support into the 1.5780 region is quite significant for the Euro, providing a downside bias for now. Resistance is now seen at 1.5820 followed by 1.5850 and 1.5930/35. On the other side, support is emerging at 1.5755/60 backed by 1.5725, 1.5670 and 1.5610. A resume of the decline could bring the support into the 1.5670 zone on focus while on the upside, a break above 1.5850 will resume uptrend. Current exchange rate is 1.5765 @06:30 GMT
Support levels: 1.5755/60, 1.5725, 1.5670 and 1.5610.
Resistance levels: 1.5820, 1.5850 and 1.5930/35
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bearish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
Key support into the .9650/66 region is on focus now and a test seem possible. A potential break will be bearish for the Aussie, opening .9615 and maybe .9550 on the upcoming days. Resistance starts at .9700 followed by .9730/50 and .9790/00. Short term studies are slightly bearish and the said support into the .9650/66 is on focus. Current exchange rate is .9671 @06:30 GMT
Support levels: .9650/66, .9615 and .9550.
Resistance levels: .9700, .9730 and .9790/00.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : slightly bearish.
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: small long at 1.6210, initial stop at 1.6175, objective at 1.6260. Adjust stop to breakeven on +30 pips (at 1.6240) if reached.
Recent break of the 1.6240 resistance level provides the green light for potential tests of the 1.6300 resistance and above. If the support into the 1.6240/50 region will be confirmed, a rally past 1.6300 will be highly possible. Important support backs 1.6230/45 at 1.6205 formed by the 200 SMA and lower into the 1.6160 zone. The upside remains on focus while holding gains above the 1.6205 mark. Current exchange rate is 1.6272 @06:30 GMT
Support levels: 1.6240/50, 1.6205 and 1.6160.
Resistance levels: 1.6295/00, 1.6345 and 1.6375.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: small short at 1.6290, initial stop at 1.6333, objective at 1.6240. Adjust stop to breakeven on +30 pips (at 1.6260) if reached : 0 pips (limit/stop not reached).
