Today’s highlights:
EUR/USD: Immediate bear pressures eased by intraday bounce, but whilst below 1.3938 mid-month threat lies through 1.3428 to 1.3305, with September risk still for 1.3050
GBP/USD: Attempted rebound from key retrace/price support, 1.5785/81, but only above 1.5992 eases bear risk. Else, late Q3 threat is lower to 1.5490, and maybe 1.5345/5296
USD/CAD: Only tentative probe above the 2010-11 trend line, but whilst above .9826 the bullish reversal threat is still higher to the 1.0300 retrace objective
Today’s trades:
EUR/USD: Flat, retry short at 1.3723 for 1.3311; exit 1.3846
USD/JPY: Short at 77.22, for 76.00, stop 77.90
GBP/USD: Reversed short from 1.6080 to long at 1.5805 for 1.5990. Stop/reverse to short here or below 1.5748
USD/CHF: Short at .8840 for .8630; exit/reverse here or above .9021
AUD/USD: Flat, wait to sell at 1.0470 for 1.0252; exit 1.0542
NZD/USD: Short at .8310 for .8105, stop at .8430
USD/CAD: Short at .9955 for .9831; exit/reverse nudged up to1.0031
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/09/document-804438140.pdf
Credit Suisse
FIXED INCOME RESEARCH & ANALYTICS