EURUSD
Trading strategy: small short at 1.3, initial stop at 1.3040, objective at 1.2910. Adjust stop to breakeven on +30 pips (at 1.2970) if reached.
The Euro has come under renewed pressure extending losses into the 1.2740 region, below both 1.3 mark and last year’s low. Current scenario is extremely bearish for the Euro as the decline is unlikely to end yet. Near term resistance is now seen at 1.3 followed by 1.3140 and 1.3260. Support starts at 1.2800 backed by 1.2740/50 and 1.2660. Long term trendline support started at 1.0760 on September 2003 extended through November-December 2005 at 1.1640/60 is currently seen at 1.2760 and could limit the downside for a while. Current exchange rate is 1.2866 @06:40 GMT
Support levels: 1.2800, 1.2740/50 and 1.2660.
Resistance levels: 1.3, 1.3140 and 1.3260.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday 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 : 0 (entry not reached)
AUDUSD
Trading strategy: stand aside
The Aussie failed to hold its gains above the .6880 support and this signals the resume of the downtrend. The downside is favored and the decline is likely to extend towards .6540/50 on first phase and .6340 later. Resistance emerges at .6735 followed by .6880 and .7065. Support is seen at .6540/50, .6445 and .6340. Intraday studies are bearish. Current exchange rate is .6647 @06:40 GMT
Support levels: .6540/50, .6445 and .6340.
Resistance levels: .6735, .6880 and .7065.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: small short at 1.5140, initial stop at 1.5180, objective at 1.5080. Adjust stop to breakeven on +30 pips (at 1.5110) if reached.
After testing bids at 1.4845 earlier today, the Euro started to recover some of its losses Vs the Swiss Franc, currently trading around 1.5025, above the minor support at 1.4965. Resistance is seen at 1.5075 followed by 1.5145 and 1.5190. Support backs 1.4965 at 1.4845 and 1.4790. If current recovery gains momentum, resistance into the 1.5145-1.5190 region will come under pressure but it will probably limit the upside. Current exchange rate is 1.5026 @06:40 GMT
Support levels: 1.4965, 1.4845 and 1.4790.
Resistance levels: 1.5075, 1.5145 and 1.5190.
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)
