Today’s highlights:
– EURUSD: Corrective downtrend persists after failure last night ahead of 1.2997 trendline resistance at 1.2972. The focus is now on the 1.2858/36/28 support cluster.
– GBPUSD: Prod below 1.6164 support signals a short-term top and allows the market to target the 38.2% Fibonacci retracement level of 1.6098. Below here sees 1.5959/66.
– AUDUSD: Removal of prior range support at 1.0367 results in a test of the 200-day average at 1.0340. We expect to see a prod below here to 1.0321, and potentially then 1.0265.
– USDCAD: Attempt to break to break key medium-term trendline resistance at .9819 persists. Above here is needed to allow for a rally towards the .9933/44/50 resistance cluster.
Today’s trades/positions:
– EURUSD: Target met and reversed long at 1.2915, add at 1.2840, stop at 1.2762, target at 1.3040.
– USDJPY: Buy again at 77.60, targeting 79.05, stop at 77.10.
– GBPUSD: Short from 1.6215, target now 1.6099, stop now at 1.6260.
– USDCHF: Short from .9380, targeting .9155, stop at .9430.
– AUDUSD: Sell at 1.0379, add at 1.0430, targeting 1.0266, stop/reverse through 1.0464.
– NZDUSD: Short from .8245, targeting .8130, stop at .8295.
– USDCAD: Long through .9780, added at .9752, target now .9890, stop at .9724.
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Credit Suisse