Today’s highlights:
* EURUSD: Failure to break above 1.2387/8 and subsequent reversal lower turns the focus back on 1.2242. Through here signals the start of next leg lower to 1.2042, then 1.1876.rbc.ru
* AUDUSD: Key trend support placed at 1.0436 now under threat. We see a break lower unfolding, completing a top, with risk to 1.0352, then the 200 DMA at 1.0287.
* USDCAD: Still holding .9905 near-term support. We now look for a more sustained rebound back towards key chart resistance at 1.0086.
* USDJPY: Yesterday’s breakout above intermediate-term trendline resistance paves the way for further gains to the 200 DMA, at 79.18, then 79.80.
Today’s trades/positions:
* EURUSD: Holding a long, stop/reverse now 1.2315, targeting reverse at 1.2340 (for 1.1900).
* USDJPY: Stopped out at 78.90. Buy at 78.61, for 79.70, stop at 78.15.
* GBPUSD: Long from 1.5700. Stop/reverse to short through 1.5656, target/reverse now 1.5700.
* USDCHF: Short from .9746, target/reverse now .9746, stop/reverse placed at .9754 (for 9960, stop at .9650)..
* AUDUSD: Long from 1.0512 targeting 1.0660, stop/reverse now at 1.0460 (for 1.0210).
* NZDUSD: Long from .8105, target/reverse at .8060, stop/reverse through .8035 (for .7960).
* USDCAD: Long at .9938 target now 1.0040, stop at .9890.
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