EURUSD
Trading strategy: long at 1.4010, initial stop at 1.3960, objective at 1.4080. Adjust stop to breakeven on +30 pips (at 1.4040) if reached
The upside barrier on the 1.4000 handle has proven strong enough to resist on yesterday’s tests and the dollar recovered some lost ground but it is giving away gains, as the euro managed to climb to as high as 1.3950 today. Minor intra-day resistance is formed at 1.3950 by the 61.8% fibonacci retracement of yesterday’s decline from 1.4000 to 1.3870. Downside pressure remains high while trading below 1.4000 and support into the 1.3890 region formed by a rising trend-line should remain intact in order to maintain the current intra-day bullish sentiment valid. Below 1.3890, extended losses may target 1.3750. Current exchange rate is 1.3927 @06:35 GMT
Support levels: 1.3890/00, 1.3820/30, 1.3750/75 and 1.3700
Resistance levels: 1.3950, 1.4000, 1.4050 and 1.4120/35
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
Yesterday trading strategy: long at 1.3930, initial stop at 1.3870, objective at 1.4045. Adjust stop to breakeven on +30 pips (at 1.3965) if reached : 0 (closed at breakeven)
AUDUSD
Trading strategy: stand aside
The breach above the .8000 mark suggests that uptrend is favored for now and extended gains towards the top side at .8230/60 may occur. Minor resistance is seen a bit higher, at .8065. On the lower zone, support is emerging at .8000 backed by .7850 and .7800. Intra-day sentiment is positive at the time of this writing, daily charts being bullish as well. Current exchange rate is .8029 @06:35 GMT
Support levels: .8000, .7950, .7850/55 and .7800
Resistance levels: .8065, .8100 and .8230/60
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: short at 1.5200, initial stop at 1.5250, objective at 1.5150. Adjust stop to breakeven on +30 pips (at 1.5170) if reached
The euro managed to recover after testing the 1.5000 support on yesterday and current gains seem to aim towards the 1.5200 mark or the key resistance at 1.5225/30 which is expected to limit the upside for now. Intra-day momentum is bullish while the daily is slightly bearish. Current exchange rate is 1.5117 @06:35 GMT
Support levels: 1.5100, 1.5050, 1.5000/10 and 1.4950
Resistance levels: 1.5150, 1.5200 and 1.5225/30
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
Yesterday trading strategy: stand aside
