EURUSD
Trading strategy: small short at 1.5555, initial stop at 1.5585, objective at 1.5465. Adjust stop to breakeven on +30 pips (at 1.5525) if reached.
The greenback recovery continued on yesterday, recovereing its recent losses. Fibonacci support at 1.5490 managed to halt the Euro decline for now but it feels heavy and the support may break easily. Bearish momentum on short term studies is supportive for more downside action if 1.5490 breaks. Below 1.5490 next important support comes at 1.5360. On the upside, near term resistance emerges at 1.5455 then 1.5610. Current exchange rate is 1.5502 @06:18 GMT
Support levels: 1.5480-90, 1.5450, 1.5400 and 1.5360.
Resistance levels: 1.5610, 1.5665, 1.5700, 1.5760 and 1.5820.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bearish
Yesterday trading strategy: small long at 1.5495, stop at 1.5460, objective at 1.5555. Adjust stop to breakeven on +30 pips (at 1.5525) if reached : 0 (closed at breakeven)
AUDUSD
Trading strategy: stand aside
The slip below 0.9540 suggests that the Aussie is not immune to dollar rallies and short term momentum losses strength. If it doesn’t manage to climb back above 0.9600 then we will look forward for an extended fall towards 0.9480. While above the 0.92 zone, the Aussie maintains its “buy on any dips” tone. Current exchange rate is 0.9558 @06:18 GMT
Support levels: 0.9540, 0.9500, 0.9475 and 0.9425.
Resistance levels: 0.9600, 0.9630, 0.9650 and 0.9700.
Market sentiment: long-term : bullish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: small long at 0.9555, stop at 0.9525, objective at 0.9605 : 0 (stop/target not reached)
EURCHF
Trading strategy: small long at 1.6233, initial stop at 1.6200, objective at 1.6313. Adjust stop to breakeven on +25 pips (at 1.6258) if reached.
Upside bias of short term studies encourage further gains above 1.6300 while intra-day support at 1.6250 or 1.6230 stays intact. Resistance emerges at 1.6300 followed by 1.6340 and 1.6380. Current exchange rate is 1.6269 @06:18 GMT
Support levels: 1.6250, 1.6230, 1.6200 and 1.6130
Resistance levels: 1.6300, 1.6340 and 1.6380.
Yesterday trading strategy: small long at 1.6220, initial stop at 1.6185, objective at 1.6290. Adjust stop to breakeven on +30 pips (at 1.6260) if reached : 0 (entry not reached)
