EURUSD
Trading strategy: long at 1.3760, initial stop at 1.3710, objective at 1.3830. Adjust stop to breakeven on +30 pips (at 1.3790) if reached
Downside is under pressure today as Friday’s attempt on breaching above the 1.4000 mark has been rejected at 1.4010. Support at 1.3880 – 50% of 1.3425-1.4340 is on focus and abreach lower will probably open 1.3750/75 – last week’s low and the 61.8% of 1.3425-1.4340 for a test within the coming trading sessions. Daily sentiment is slightly bearish although the current decline could be corrective in nature, intra-day momentum being bearish at the time of this writing. A potential breach above 1.3950 would flip momentum on the upside but the more important barrier is set into the 1.4000/10 region. While trading below the 1.4000 mark, selling pressure will continue to favor further downside action. Current exchange rate is 1.3890 @06:10 GMT
Support levels: 1.3880, 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
Friday 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 : -50 pips
AUDUSD
Trading strategy: stand aside
Minor support is formed at .8000 and it is followed by .7950 – 61.8% of .7850-.8115 and .7880/90 – a rising trend line. While the short-term momentum is positive, the intra-day studies are bearish – pointing downwards. A breach above .8050 would help rebuilding the bullish structure, favoring extended gains towards last week’s top side at .8115. Above .8115, next important barrier is seen around .8200 – formed by a downward trend line through previous tops. On a short term basis, the upside is favored and extended losses will trigger fresh buying orders. Current exchange rate is .8008 @06:10 GMT
Support levels: .8000, .7950, .7850/55 and .7800
Resistance levels: .8050/65, .8115, .8200 and .8230/60
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Friday trading strategy: stand aside
EURCHF
Trading strategy: short at 1.5125, initial stop at 1.5165, objective at 1.5075. Adjust stop to breakeven on +20 pips (at 1.5105) if reached
The 1.5000 mark is well protected and the euro rallied after reaching initial lows at 1.5005 last week. However, gains have been limited by the interim resistance at 1.5150 and the 1.5050 zone is under pressure now as the pair failed to hold gains above the 1.5100 mark. The daily range remains low – averaging 65 points / day. Short-term sentiment is bearish but it seem that 1.5000 provides a safe support. A breach on either side – below 1.5000 or above 1.5225/35 is needed in order to provide direction and, hopefully, end the choppy trading into such narrow daily ranges. Current exchange rate is 1.5063 @06:10 GMT
Support levels: 1.5050, 1.5000/10 and 1.4950
Resistance levels: 1.5100, 1.5150, 1.5200 and 1.5225/30
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
Friday 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 : 0 (entry not reached)
