EURUSD
Trading strategy: stand aside
Trading higher today, the euro maintains its bid tone against the dollar after advancing a bit higher on yesterday – testing offers at 1.3470. As long as the 1.34 region is under pressure, short term sentiment will remain positive and next objective will be 1.3580 – April’s top. The 1.3580/00 region is expected to act as a strong barrier since the 50% retracement of the larger decline from 1.4720 to 1.2455 belongs to the mentioned resistance area. Looking even higher, next notable barrier emerges at 1.3735/50 – topside of the previous euro’s attempt on strengthening out of the 1.3 zone. Upside is favored for now, ahead of the NFP data release later today. Potential pullbacks should face support at 1.3350, 1.3280/00 and 1.3180. Current exchange rate is 1.3403 @06:00 GMT
Support levels: 1.3350, 1.3280/00 and 1.3180
Resistance levels: 1.3435, 1.3470 and 1.3580
Market sentiment: long-term : bearish, mid-term : slightly bearish, short-term : bullish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: short at .7675, initial stop at .7725, objective at .7575. Adjust stop to breakeven on +30 pips (at .7635) if reached.
The Aussie dollar continues to climb higher, approaching the key resistance at .7675 – bottom of 2007. A potential breach above the said level should open .7930. Intra-day support is formed at .7500/10 backed by .7475 and .7420. Interim resistance is seen at .7600/15. Daily momentum is positive, intra-day studies being bullish as well. Current exchange rate is .7553 @06:00 GMT
Support levels: .7500/10, .7475, .7445/50 and .7420
Resistance levels: .7600/15, .7675 and .7850.
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: short at 1.5230, initial stop at 1.5270, objective at 1.5150. Adjust stop to breakeven on +30 pips (at 1.5200) if reached
The euro rallied against the swiss franc on yesterday, testing offers at 1.5175 before pulling back below the initial resistance of 1.5125, which is again valid today. Daily sentiment is slightly bullish but a break above 1.5230 is needed to fully confirm that uptrend resumed. Support is seen at 1.5100 then lower, at 1.5055 and 1.5000/10. Current exchange rate is 1.5122 @06:00 GMT
Support levels: 1.5100, 1.5050, 1.5000/10, 1.4910/30 and 1.4800
Resistance levels: 1.5125, 1.5175, 1.5200 and 1.5230
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: stand aside
