EURUSD
Trading strategy: stand aside
Intraday studies are bearish and the current decline below the 1.4475 mark may continue towards next support level at 1.4375. Short term momentum is bullish but a potential breach of the support at 1.4375 will signal a reversal, confirming the resume of the downtrend. Resistance starts at 1.4475 followed by 1.4540 and 1.4615. Support starts at 1.4435 backed by 1.4375 and 1.4300. Current exchange rate is 1.4449 @06:30 GMT
Support levels: 1.4435, 1.4375 and 1.4300.
Resistance levels: 1.4475, 1.4540 and 1.4615.
Market sentiment: long-term : bullish, mid-term : bearish, short-term : bullish
Friday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
The downside is under pressure, intraday studies being bearish at the time of this writing. While trading below the .8260 mark, the Aussie may extend its losses to .8160 which is the 50% retracement of the .7800-.8520 upward move. Current exchange rate is .8243 @06:30 GMT
Support levels: .8240, .8195 and .8160.
Resistance levels: .8260/65, .8340 and .8425.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish
Friday trading strategy: small long at .8095, initial stop at .8055, objective at .8155. Adjust stop to breakeven on +30 pips (at .8125) if reached : 0 (entry not reached)
EURCHF
Trading strategy: stand aside
Minor support is seen at 1.5850/55 and current losses may extend lower to 1.5810 and then 1.5750. On the upside, resistance starts at 1.5900 followed by 1.5975 and 1.6. The daily studies are slightly bearish. Current exchange rate is 1.5857 @06:30 GMT
Support levels: 1.5850, 1.5810 and 1.5750
Resistance levels: 1.5900, 1.5970/75, 1.6 and 1.6030
Market sentiment: long-term : bullish, mid-term : neutral, short-term : slightly bearish
Friday trading strategy: stand aside
