EURUSD
Trading strategy: long at 1.3620, initial stop at 1.3570, objective at 1.3720. Adjust stop to breakeven on +30 pips (at 1.3650) if reached
The euro is approaching the resistance into the 1.3735/40 region – top side of March. As the upside is favored and momentum is positive on both medium and short term charts, a breach above the said level seem highly possible on the coming sessions. Such breach will open 1.3855 – 61.8% of 1.3720-1.2455 – for a later test, maybe next week. Hourly studies are positive too and intra-day support is emerging into the 1.3650 zone first, backed by a more notable one around 1.3600 – formed by a rising trend line extended from last 2 days lows. Current exchange rate is 1.3682 @06:08 GMT
Support levels: 1.3650, 1.3600, 1.3560 and 1.3490/00
Resistance levels: 1.3735/40, 1.3800 and 1.3850/55
Market sentiment: long-term : bearish, mid-term : slightly bullish, short-term : bullish
Yesterday 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 : 0 (entry not reached)
AUDUSD
Trading strategy: stand aside
Recement top side of .7700/10 is on focus now that the retracement is over. Extended gains past .7700 should aim towards .7925 on the coming days – 50% of the large decline from .9850 to .6005. Both daily and intra-day studies are bullish and short-term sentiment will remain intact as long as the Aussie holds above the .7350 zone. Current exchange rate is .7681 @06:08 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: long at .7480, initial stop at .7430, objective at .7550. Adjust stop to breakeven on +30 pips (at .7510) if reached : 0 (entry not reached)
EURCHF
Trading strategy: stand aside
The pair lacks strength big time, trading in a range of 30 points on yesterday being paralyzed into the 1.5035-1.5090 range since Monday. Expectations are very low while the daily range remains below 100 points. Current exchange rate is 1.5080 @06:08 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
