Resistance
: 1,5940/ 1,5960-70/ 1,6000-15/ 1,6040/ 1,6080-90
Support : 1,5910/ 1,5570-80/ 1,5820-30/ 1,5750
Comment : Euro moved above 1,5900 after reaching the support area of 1,5830, within a low liquidity and high volatility environment. If 1,5900 is breached and turned into a support, resistance at 1,5950-70 or even all time highs at 1,6020-40 are back in the game. According to current facts, a move to new tops is a less possible scenario, but we will follow it if previous tops are breached.
First important resistance is found at 1.5950-70, and should be tested if yesterday highs are breached.
Support at 1,5885-90 should not be breached if yesterday's move is going to reach previous highs. A move below those levels will bring the base of 1,5800-30 back in the game, indicating a sideways consolidation formation.
TRADING EUR/USD
SWING TRADING : We keep our positions small and prefer the short term trading. Positions that are still open from the tops, could have stops above the tops. A pullback to 1,6020-40 could be used for sell positions again...We will change our strategy in case of a clear and intense break of 1,6050...
INTRADAY TRADING : We will try sell positions at 1,5950-65 area, with target at 1,5915-20. Stops could be set at 1,5985 or positions could be added at 1,6020-40 with stops above 1,6060...
GBP/USD
Resistance : 2,0050/ 2,0070-80/2,0130/ 2,0160/ 2,0200
Support : 2,0020-30/ 1,9980/ 1,9950/ 1,9920
Comment : A pullback above 2,0000 and an upward break of the short term channel, would indicate that the pound will stay between 1,9900 and 2,0100 longer before it gives clear signs. A formation of a sideways consolidation would be a possible scenario.
Important intraday resistance is found at 2,0070 and 2,0100 ,which is more important. A clear retracement below 2,0000 and its turning into a support, will bring the downward scenario back in the game...
TRADING GBP/USD : We will try sell positions at the reactions towards 2,0070-80 and 2,0090-00 with stops 2,0135 and targets at 2,0030…
USD/JPY 
USD/CHF
Technical analysis-Comments
G. Antonakos
Head of Analysis Dept.