Dollar pulled back against its major counter-parts, especially against the euro which is currently trading in the 50% retracement zone of the decline from 1.34 to 1.2750
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
It’s easier to see on the daily chart that previous daily candles are suggesting an extended recovery – as the sell-off initiated at the 61.8% retracement was limited
Upside is still favored and the decline below 99 seems corrective.
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy dips at 99, stop below 98.30, target at 101
AUD recovered and is now testing former support line, providing resistance near .9600. In case of breakout, this should be a good buying opportunity
Market sentiment: intraday – bullish, short-term – bearish
Potential trade strategy: to buy on strength above .9600, target at .9800, stop below .9530
have a great day!