27-11-2008 daily quotes and market analysis
EURUSD
The retreat from above the 1.3 mark is corrective, so far, as the daily studies remain bullish. Intraday resistance is formed by yesterday’s support at 1.2925 which could not be broken after several tests today. Above 1.2925, resistance emerges at 1.3 then 1.3080/00 and 1.3260. Support is seen at 1.2800/15 backed by 1.2680/00 and 1.2565. On an intraday basis, the pair lacks direction but while 1.2925 holds, a pullback down to 1.2815 and lower to 1.2680-1.2700 is possible. Current quote is 1.2888 @07:40 GMT
Support levels:1.2800/15, 1.2680/00 and 1.2565.
Resistance levels: 1.2925, 1.3080/00, 1.3125 and 1.3260.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bullish
Yesterday recommended trade: small long at 1.2815, initial stop at 1.2775, objective at 1.2915. Adjust stop to breakeven on +30 pips (at 1.2845) if reached : 0 (entry not reached / missed by 5 pips)
AUDUSD
The Aussie dollar continues to consolidate below key resistance at .6600. Intraday studies are neutral at the time of this report while the daily momentum is slightly bullish. A sustained break of .6600 is needed to confirm the uptrend while on the downside. Support is eyed at .6480 backed by .6390/00 and .6335. Current quote is .6505 @07:40 GMT
Support levels: .6480, .6390/00, .6340 and .6255.
Resistance levels: .6550, .6600 and .6700.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bullish
Yesterday recommended trade: stand aside
EURCHF
Falling below earlier established support at 1.5480, the Euro is weaker versus the Swiss Franc and may continue the correction towards 1.5400 where first important support level is seen. Daily sentiment is bullish and won’t be affected by a potential correction as long as the pair trades above 1.5235. Resistance is seen into the mid 1.55 region. Current quote is 1.5467 @07:40 GMT
Support levels: 1.5400, 1.5335 and 1.5220/30.
Resistance levels: 1.5480, 1.5550 and 1.5620.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish
Yesterday recommended trade: small long at 1.5305, initial stop at 1.5265, objective at 1.5365. Adjust stop to breakeven on +30 pips (at 1.5335) if reached : 0 (entry not reached)
