EURUSD
Trading strategy: stand aside
The euro managed to close 20 points higher on yesterday, after sliding to as low as 1.3877 before the US trading session open. Intra-day resistance is formed on the 1.4000 handle, followed by another barrier a few points above, into the 1.4030/50 region. On a sustained breach above 1.4030/50, the euro will return into the positive territory, making it possible to extend gains later towards key downward trend line resistance seen around 1.4175. Both short term and intra-day studies are expressing indecision, probably due to illiquidity. While below 1.4030/50, downside bias will favor selling towards 1.3900 and yesterday’s low at 1.3877. Below that, important bearish objective is emerging at 1.3730/50. Current exchange rate is 1.3963 @06:15 GMT
Support levels: 1.3930/50, 1.3875/00, 1.3830 and 1.3730/50
Resistance levels: 1.4000, 1.4030/50, 1.4100, 1.4180/00
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bullish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: small long at .8015, initial stop at .7965, objective at .8085. Adjust stop to breakeven on +30 pips (at .8045) if reached
The Aussie dollar recovered on yesterday and currently trades near friday’s closing rate at .7975. Interim resistance at .8000 has to be cleared away in order to regain strength and rally to .8120 which is an important upside barrier formed by the descendant trend line started on .8260 recent peak. Intra-day sentiment is positive while the short-term studies are slightly bullish too. Support is seen into the .7900/20 region and the intra-day sentiment will remain positive as long as the said support holds, upside being slightly favored for now. Current exchange rate is .7972 @06:15 GMT
Support levels: .7900/20, .7840/50, .7750 and .7680/00
Resistance levels: .8000, .8050, .8100 and .8155/85
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
The euro found temporary support on the falling trend line support at 1.5150 – the lower band of the downward trend channel best seen on the 4 hours charts. Short term sentiment remains bearish while trading below 1.5250 and the low daily range which averages 60 points makes it hard to rally “that high” within a short time. We will see if a break down below 1.5150 will trigger another SNB intervention, challenging the 1.55 mark. Current exchange rate is 1.5171 @06:15 GMT
Support levels: 1.5140/50 and 1.5100
Resistance levels: 1.5200, 1.5235/50, 1.5285 and 1.5325
Market sentiment: long-term : bearish, mid-term : bearish, short-term : neutral
Yesterday trading strategy: stand aside
