Monday 03.02.2009

EURUSD

The Euro shows a negative bias as it failed to hold above 1.2660/70 support on Friday. Support is emerging at 1.2515 backed by 1.2400/15 and 1.2330. Upside barriers are seen at 1.2680, 1.2800 and 1.2900. Daily momentum is bearish and a break above 1.2900 is needed to confirm a transition towards the upside. Intra-day studies are neutral at the time of this writing, but a climb towards the 1.2680/1.2700 seem possible, in order to fill the 80 points gap formed over the weekend. Current quote is 1.2598 @07:15 GMT

Support levels: 1.2515, 1.2400/15 and 1.2330.
Resistance levels: 1.2680/00, 1.2800 and 1.2900.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish

Friday recommended trade: small long at 1.2480, initial stop at 1.2440, objective at 1.2580. Adjust stop to breakeven on +30 pips (at 1.2510) if reached : 0 (entry not reached)

AUDUSD

The Aussie Dollar currently recovers after reaching intra-day lows at .6295 but the downside is likely to stay under pressure. Daily momentum is bearish and potential rallies may be limited by resistance levels at .6390 which is being tested at the time of this writing, followed by .6450 and .6550. On the lower zone, support is seen at .6330 backed by .6280 and .6245. A potential break below .6245 may open .6070. Current quote is .6378 @07:16 GMT

Support levels: .6330, .6280 and .6245.
Resistance levels: .6390, .6450 and .6550.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bearish

Friday recommended trade: small short at .6650, initial stop at .6690, objective at .6580. Adjust stop to breakeven on +30 pips (at .6620) if reached : 0 (entry not reached)

EURCHF

Support on the 1.4800 handle couldn’t hold and the break favors further losses towards the mid 1.46 region. Daily sentiment is bearish while the intra-day studies are neutral at the time of this writing. Resistance starts at 1.4800 followed by 1.4875 and the more important barrier at 1.4930. A break above 1.4930 is needed to resume uptrend. Current quote is 1.4772 @07:15 GMT

Support levels: 1.4750/60, 1.4700 and 1.4650.
Resistance levels: 1.4800, 1.4875 and 1.4930.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish

Friday recommended trade: stand aside

Wednesday 02.11.2009

EURUSD

Daily sentiment maintains a neutral stance after the Euro has switched direction, tripping the downside after the failed attempt to climb past resistance zone of 1.3070/90. Interim support was found on the 1.2800 handle and if it holds, a recovery may occur, focusing on the same near-term resistance area of 1.3070/90. On an intra-day basis, the charts are slightly bearish but above 1.2950, momentum will turn positive. Following 1.3070/90, key resistance is eyed at 1.3320/30. Current quote is 1.2913 @07:20 GMT

Support levels: 1.2850, 1.2800/10, 1.2705, 1.2650 and 1.2550.
Resistance levels: 1.2950, 1.3000, 1.3070/90, 1.3150 and 1.3320/30.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : neutral

Yesterday recommended trade: stand aside

AUDUSD

The large pullback of yesterday brings pressure on the downside and support at .6500 plays a decisive role on keeping near-term’s momentum positive. Below the said support, losses will probably extend to .6350 or below. Upside barriers are seen at .6600 followed by .6650/60 and .6840. Daily studies are still bullish while the hourlies are slightly bearish at the time of this writing. Current quote is .6542 @07:20 GMT

Support levels: .6500, .6415 and .6350/60.
Resistance levels: .6600, .6650/60, 6800 and .6840/50.
Market sentiment: long-term : bearish, mid-term : bearish , short-term : bullish

Yesterday recommended trade: stand aside

EURCHF

The 1.4900 region is back on focus and the short-term momentum losses strength. Resistance is formed into the 1.5050 zone followed by 1.5150 and 1.5270. Below 1.4880, support emerges at 1.4815 and 1.4745. Intra-day studies are bearish and resistance into the 1.5025/50 zone is expected to be strong. Current quote is 1.4947 @07:20 GMT

Support levels: 1.4880, 1.4800/15 and 1.4745.
Resistance levels: 1.5025/50, 1.5150 and 1.5270.
Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bullish

Yesterday recommended trade: stand aside