Today’s highlights:
– EURUSD: Prod above 1.2593/8 Fibonacci cluster exposes the mediumterm downward trendline at 1.2644. Above here is needed to expose the 1.2749 interim high.
– AUDUSD: Break through the 200-day average reinforces the downside risks as well as exposing the 38.2% Fibonacci retracement support level.
– GBPUSD: The focus is now back on 1.5907/13/34 resistance cluster as the market holds 1.5754/70 support.
– USDJPY: Trendline break lower sees the market put pressure on the key 78.15 support level. Below here allows for an acceleration lower to 77.91 and then 77.66.
Today’s trades/positions:
– EURUSD: Short from 1.2479, and 1.2575, stop/reverse 1.2590 (for 1.2640), target/reverse now 1.2525.
– USDJPY: Long from 78.32 targeting 79.20, stop/reverse through 78.13 (for 77.15).
– GBPUSD: Stopped out at 1.5890. Buy at 1.5850 targeting 1.5990, stop at 1.5780 (if stopped sell through 1.57770).
– USDCHF: Target met and reversed to unwanted long at .9570, target/reverse now .9570, stop/reverse at .9535 (for .9375).
– AUDUSD: Sell at 1.0295, targeting 1.0203, stop/reverse through 1.0365.
– NZDUSD: Sell at .8050, targeting .7945, stop/reverse through .8065 (for .8180).
– USDCAD: Long from .9885 target extended to 1.0050, stop at .9820.
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Credit Suisse