Today’s highlights:
EUR/USD: Continued failure at the 1.4518/00 resistance zone keeps the bias lower through 1.4328 trend support to 1.4259 and then 1.4150
GBP/USD: Market reverts back to intermediate-term trendline support placed at 1.6260. A break through here signals downside continuation to 1.6110/01
USD/JPY: Market breaks above 77.31 initial resistance and now targets the 38.2% Fibonacci retracement resistance level of 77.82. Above here is needed to signal a base
USD/CAD: Spike lower after breakout from triangular range finds support at the 200-day average. We expect a break above .9939 initial resistance and re-test of 1.0011
Today’s trades:
EUR/USD: Sell at 1.4430 targeting 1.4160, stop placed at 1.4530
USD/JPY: Stopped out and reversed long through 77.22 targeting 79.00, stop placed at 76.42
GBP/USD: Sell again at 1.6355 targeting 1.6150 stop at 1.6425
USD/CHF: Long at .7830 for .8060, stop/reverse through .7755 (for target/reverse of .7653)
AUD/USD: Average short at 1.0453, target 1.0210, stop at 1.0610
NZD/USD: Averaged short at .8273, target .8000, stop .8426
USD/CAD: Stopped out and now unwanted short from .9810. Target reverse to long at .9847, stop/reverse through .9890
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http://www.easyforexnews.net/wp-content/uploads/2011/08/document-804360340.pdf
Credit Suisse
FIXED INCOME RESEARCH & ANALYTICS