Today’s highlights:
* EUR/GBP: The recovery bounce has extended, but we look for .7934/64 to cap to maintain the medium-term downtrend.
* EUR/JPY: The push above 98.77 keeps the immediate risks higher to 100.72 where we would expect renewed selling.
* EUR/SEK: Follow through trend and 21-day MA barriers at 8.2985/3057 would see a deeper recovery to 8.3822, but we except 8.5052 to cap to keep our core target lower at 8.0480.
* EUR/NOK: The sideways ranging consolidation has extended, but while 7.4050/4100 caps our medium-term bias is still bearish for 7.2176.
* NOKSEK: The break of trend resistance now at 1.1318 signals an extension of the consolidation. However, we expect the 1.1406/15 barrier to cap to keep our medium bias lower still bearish.
* AUDNZD: Support is still being found at the 200-day MA and price support at 1.2880/66 and we look for a rebound in the range from here.
Today’s trades/positions:
* EUR/GBP: Assume flat, sell again at .7934, stop/reverse at .7969 for .7815.
* EUR/JPY: Flat, sell at 98.65, stop/reverse at 99.15, for 96.60.
* EUR/SEK: short at 8.3050, stop at 8.3150 for 8.0500.
* EUR/NOK: Short at 7.4316/29, stop at 7.4860 for 7.2200
* NOK/SEK: Short at 1.1381, stop at 1.1455, targets 1.1090.
* AUD/NZD: Flat, buy at 1.2890, stop/reverse at 1.2864 for 1.3040.
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