EURUSD
Trading strategy: long at 1.3485, initial stop at 1.3435, objective at 1.3555. Adjust stop to breakeven on +30 pips (at 1.3515) if reached
The euro is currently consolidating around the 1.3600 mark, not far from Friday’s high of 1.3665. As long as the euro keeps trading above the 1.3450/60 support zone, the upside will remain favored and extended gains past Friday’s high are possible towards important resistance at 1.3735/40 and maybe 1.3850/55 – the 61.8% retracement of the 1.4720-1.2455 move. Intra-day studies are slightly bullish at the time of this writing and support is seen at 1.3560 backed by 1.3490/00 and 1.3385. Current exchange rate is 1.3617 @05:55 GMT
Support levels: 1.3560, 1.3490/00 and 1.3385
Resistance levels: 1.3650/60, 1.3735/40 and 1.3850.
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : bullish
Yesterday trading strategy: long at 1.3490, initial stop at 1.3440, objective at 1.3590. Adjust stop to breakeven on +30 pips (at 1.3520) if reached : 0 (entry not reached)
AUDUSD
Trading strategy: long at .7480, initial stop at .7430, objective at .7550. Adjust stop to breakeven on +30 pips (at .7510) if reached
The Aussie dollar pulled back into the .7560/70 support zone on yesterday and needs to breach above .7650 to resume uptrend. The 150 points decline is corrective, so far, and may extend even lower – towards .7525 or .7480 without affecting the short term’s bullish sentiment. Intra-day studies are slightly bearish at the time of this report, as the pullback doesn’t seem to be over yet. Current exchange rate is .7593 @05:55 GMT
Support levels: .7570, .7525 and .7480
Resistance levels: .7650, .7700/15, .7750 and .7850
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
The pair lacks direction since a month ago and continues to trade into a narrow range, averaging 60 points / day. Downside seem a bit favored lately and key support is formed into the 1.5000/10 zone. On the upside, barriers are emerging at 1.5115/25 then 1.5175 and 1.5230. A breach above 1.5230 is needed to resume uptrend. Current exchange rate is 1.5068 @05:55 GMT
Support levels: 1.5050, 1.5000/10, 1.4910/30 and 1.4800
Resistance levels: 1.5115/25, 1.5175, 1.5200 and 1.5230
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday trading strategy: stand aside
