EURUSD
Trading strategy: long at 1.3920, initial stop at 1.3870, objective at 1.4000. Adjust stop to breakeven on +30 pips (at 1.3950) if reached
Yesterday’s top side into the 1.3930 zone is on focus as the euro recovers monday’s losses. A breach above the 1.4000 mark is needed to signal a resume of the uptrend. While trading below the said barrier, rallies are expected to face solid selling but on a short-term basis, the recent move to 1.3750 is rather corrective and the bullish structure is expected to remain intact. Below 1.3750, short-term sentiment turns negative, favoring further selling towards the 1.3500 mark. Intra-day momentum is bullish at the time of this writing. Current exchange rate is 1.3897 @06:18 GMT
Support levels: 1.3800, 1.3750/75 and 1.3700
Resistance levels: 1.3930, 1.4000, 1.4050 and 1.4120
Market sentiment: long-term : bearish, mid-term : bullish, short-term : slightly bearish
Yesterday trading strategy: stand aside
AUDUSD
Trading strategy: stand aside
Downside pressure remains quite high as long as the Aussie dollar is trading below the .8000 mark, currently around .7950. Important support is seen 100 points lower, at .7850. As long as the said support remains intact, a resume of the uptrend may occur, re-testing the .8100 barrier. Above .8100, next objective is emerging on the recent top side at .8235/60. Short term momentum is slightly bullish while intra-day studies are positive as well at the time of this report. Current exchange rate is .7955 @06:18 GMT
Support levels: .7900, .7850/55, .7800 and .7760
Resistance levels: .7950/60, .8000 and .8050
Market sentiment: long-term : bearish, mid-term : bullish, short-term : bullish
Yesterday trading strategy: stand aside
EURCHF
Trading strategy: stand aside
Intra-day resistance is formed by former support at 1.5090 and a breach would open 1.5130 for a later test. However, volatility will probably remain low as we got used to on the last few weeks. Short-term sentiment is slightly bearish while the intra-day studies are negative at the time of this writing. Current exchange rate is 1.5073 @06:18 GMT
Support levels: 1.5050, 1.5000/10 and 1.4950
Resistance levels: 1.5100, 1.5150 and 1.5225/30
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
Yesterday trading strategy: stand aside
