Today’s highlights:
USDJPY: Another “bearish “outside” pattern plunges towards key near-term support target , 80.58, which we look to hold near term.
EURJPY: Capitulation below key support at 105.96/65 (200-DMA/retrace/chart) signals a bigger top and aims at 104.24, below which would target 102.54 (see today’s FX Daily Crosses publication).
EURUSD: Still hovering above Head & Shoulders neckline, 1.3030, with risk mounting for a break below to target 1.2805.
AUDUSD: Bearish “outside” pattern to new correction low and through 50% retrace, 1.0260, maintains our bias to 1.0145/15 into mid-month.
Today’s trades/ positions:
EURUSD: Flat, try short at 1.3160 for 1.2810; exit 1.3260.
USDJPY: Average long now 81.63 for 85.40; exit 80.40.
GBPUSD: Long at 1.5855 for 1.6160; exit 1.5744.
USDCHF: Flat, try a long at .9106 for .9330; exit .8988.
AUDUSD: Flat, retry short at 1.0350 for 1.0050; exit 1.0475.
NZDUSD: Short at .8400; target is .8050; exit .8300.
USDCAD: Short at .9970 for .9790; exit 1.0085.
Click here to read the full report: FX Daily Majors
Credit Suisse
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