Friday 03.06.2009
EURUSD
Upside is under pressure ahead of the NFP data release today and the Euro managed to recover after dipping to 1.2480 on yesterday. Minor resistance into the 1.2650/60 region has been cleared out and it looks like the barrier into the 1.2680/00 zone is being breached too, at the time of this writing. The break of 1.2680/00 should open 1.2850/80 for extended rallies once finding support above the 1.2680-1.2730 region. Hourly momentum is bullish while the dailies maintain a slightly bearish stance still. Key medium term resistance zone is formed within the 1.2990-1.3090 range and a breach above the 1.3100 mark will confirm the bullish structure. On the downside, support starts at 1.2660 backed by 1.2565, 1.2455/80 and 1.2330. Current quote is 1.2715 @07:10 GMT
Support levels: 1.2660, 1.2565, 1.2455/80, 1.2400/15 and 1.2330.Resistance levels: 1.2750, 1.2880/00 and 1.2990/00.Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
Yesterday recommended trade: stand aside
AUDUSD
The Aussie Dollar seem to resume uptrend after yesterday’s correction. Minor resistance emerges at .6480 followed by the key barrier at .6550. A potential break above .6550 will be important as it will confirm the uptrend, opening February’s high at .6850. On the lower side, support is formed into the .6330-.6360 region backed by .6250/80. Hourly momentum is positive at the time of this writing. Current quote is .6448 @07:10 GMT
Support levels: .6330/60, .6280/90 and .6250.Resistance levels: .6480, .6550, .6650 and .6730Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bullish
Yesterday recommended trade: stand aside
EURCHF
Downside is under high pressure as the EUR failed to hold above 1.4750. Fast selling drags the pair towards support zone into the 1.4500 zone or maybe lower, to the 1.4300 record low reached on October 2008. Resistance emerges at 1.4650 followed by 1.4700 and 1.4830. Current quote is 1.4604 @07:10 GMT
Support levels: 1.4600, 1.4550, 1.4500 and 1.4300.Resistance levels: 1.4650, 1.4700, 1.4830 and 1.4930.Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday recommended trade: small short at 1.4930, initial stop at 1.4970, objective at 1.4860. Adjust stop to breakeven on +30 pips (at 1.4900) if reached : 0 (entry not reached)
EURUSD
Upside is under pressure ahead of the NFP data release today and the Euro managed to recover after dipping to 1.2480 on yesterday. Minor resistance into the 1.2650/60 region has been cleared out and it looks like the barrier into the 1.2680/00 zone is being breached too, at the time of this writing. The break of 1.2680/00 should open 1.2850/80 for extended rallies once finding support above the 1.2680-1.2730 region. Hourly momentum is bullish while the dailies maintain a slightly bearish stance still. Key medium term resistance zone is formed within the 1.2990-1.3090 range and a breach above the 1.3100 mark will confirm the bullish structure. On the downside, support starts at 1.2660 backed by 1.2565, 1.2455/80 and 1.2330. Current quote is 1.2715 @07:10 GMT
Support levels: 1.2660, 1.2565, 1.2455/80, 1.2400/15 and 1.2330.Resistance levels: 1.2750, 1.2880/00 and 1.2990/00.Market sentiment: long-term : bearish, mid-term : bearish, short-term : slightly bearish
Yesterday recommended trade: stand aside
AUDUSD
The Aussie Dollar seem to resume uptrend after yesterday’s correction. Minor resistance emerges at .6480 followed by the key barrier at .6550. A potential break above .6550 will be important as it will confirm the uptrend, opening February’s high at .6850. On the lower side, support is formed into the .6330-.6360 region backed by .6250/80. Hourly momentum is positive at the time of this writing. Current quote is .6448 @07:10 GMT
Support levels: .6330/60, .6280/90 and .6250.Resistance levels: .6480, .6550, .6650 and .6730Market sentiment: long-term : bearish, mid-term : bearish , short-term : slightly bullish
Yesterday recommended trade: stand aside
EURCHF
Downside is under high pressure as the EUR failed to hold above 1.4750. Fast selling drags the pair towards support zone into the 1.4500 zone or maybe lower, to the 1.4300 record low reached on October 2008. Resistance emerges at 1.4650 followed by 1.4700 and 1.4830. Current quote is 1.4604 @07:10 GMT
Support levels: 1.4600, 1.4550, 1.4500 and 1.4300.Resistance levels: 1.4650, 1.4700, 1.4830 and 1.4930.Market sentiment: long-term : bearish, mid-term : bearish, short-term : bearish
Yesterday recommended trade: small short at 1.4930, initial stop at 1.4970, objective at 1.4860. Adjust stop to breakeven on +30 pips (at 1.4900) if reached : 0 (entry not reached)
