EURUSD
Trading strategy: standing aside
Range-bound trading continues as the upside was capped by 1.2740 yesterday but support around 1.2650 was also stable. Recent euro’s losses against the Swiss franc and the yen are contributing to its weakness against the dollar, too – and current EURCHF and EURJPY studies don’t look too good to those expecting a decent recovery. Intra-day sentiment is slightly bullish at the time of writing, as the euro holds overnight gains not far below yesterday’s top – but short-term studies will remain bearish until 1.2900 will be conquered. Interim resistance is layered between 1.2740 and 1.2770. Current quote is 1.2698 @05:37 GMT
Support: 1.2650, 1.2600, 1.2500 and 1.2430/50
Resistance: 1.2740/70, 1.2850 and 1.2900/20
Market sentiment: long term – bearish, medium term – slightly bullish, short term – bearish, intra-day – slightly bullish
More trading setups
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Have a great day!
