Hello. The euro has climbed slowly against the dollar toward the 61.8% of 1.3415-1.2755 at 1.3160.A hint of current recovery was the two daily candles highlighted in my previous post and below. Buying on the breakout above this fib resistance is one thing to consider
Market sentiment: intraday – bullish, short-term – slightly bullish
Potential trade strategy: to buy on break of 1.3150, target at 1.3300, stop below 1.3080
Dollar continues to recover after testing support around 98, hence upside remains favored for now.
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to hold long at 99, stop below 98.30, target at 101
The breakout above .9600 (trendline) turned out to be false as AUD failed to hold above said trendline and is pulling back toward .9500 which is the 1st level of support.
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on breakdown below .9500, stop above .9560, target at .9400
AUDUSD starts looking interesting as current consolidation seem to come to an end, so keep an eye on the resistance zone above recent daily highs and .9350 as a breakout is in the cards in the coming days
Market sentiment: intraday – neutral, short-term – bearish
Potential trade strategy: to buy on break above .9300, stop below .9230, target at .9500
have a good day