Today’s highlights:
* EURUSD: Correction holds above key 1.2200/09 support zone keeping short-term upward trend intact for now. We remain positive
over the short term for 1.2598.
* USDJPY: Failure at 78.80, ahead of trendline resistance at 78.90, keeps the current downtrend intact for now, with the focus lower to 77.66, then 77.00.
* AUDUSD: Sell off gains traction at the 200-day average at 1.0497. The focus is now back on the 1.0615 high. We continue to expect a break above 1.0615, for 1.0671 initially.
* GBPUSD: Sharp reversal from 1.5577 support last Friday turns the focus back on range resistance at 1.5785/68. Above here exposes the 61.8% retracement hurdle of 1.5907.
Today’s trades/positions:
* EURUSD: Holding a long, stop/reverse 1.2110. Take profit 1.2590.
* USDJPY: Short from the move higher, stop above 78.90. Target 77.80.
* GBPUSD: Stopped out and reversed long from 1.5700. Target placed at 1.5895, stop at 1.5565.
* USDCHF: Long from .9700. Add at .9585, with stop now at .9760. Target .9820.
* AUDUSD: Buy at 1.0512 targeting 1.0660, stop/reverse through 1.0432.
* NZDUSD: Stopped out at .8110. Buy again at .8105 targeting .8248, stop at .8035.
* USDCAD: Long at .9938 target/reverse now .9955, stop at .9890.
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