EURUSD
Trading strategy: looking to sell at 1.3685, stop at 1.3745 (0.5% risk), objective at 1.3605
Euro’s sell-off continued, extending below $1.36, to as low as 1.3585. Downside remains under pressure as there’s no sign of a recovery and the euro may revisit the 1.3450 support zone within the coming sessions. Resistance into the 1.3670-1.3700 region will probably cap the upside in case of a correction. Above 1.37 – short-term uptrend resumes, but for now – focus should stay to the downside. Current quote is 1.3613 @06:58 GMT
Support: 1.3550/85, 1.3500 and 1.3450
Resistance: 1.3680/00, 1.3735, 1.3800/20, 1.3850/60 and 1.3900
Market sentiment: long term – bullish, medium term – bearish, short term – slightly bearish, intra-day – bearish
GBPUSD
Trading strategy: standing aside
Cable seems ready to test some support levels on current decline which is probably corrective only. The 50% of 1.4975-1.5380 at 1.5180 is currently being tested; next support coming at 1.5130 and 1.5050. Short term sentiment is still bullish but will change if it breaks below 1.5100/30. Intra-day momentum is bearish since forming resistance at 1.5300 yesterday. Current quote is 1.5201 @06:58 GMT
Support: 1.5180, 1.5130, 1.5050 and 1.5000
Resistance: 1.5245, 1.5300/20 and 1.5380/00
Market sentiment: long term – bearish, medium term – bearish, short term – bullish, intra-day – bearish
Have a great day and a nice weekend!
