Today’s highlights:
– EUR/GBP: Basing efforts continue to unfold, and whilst above .7910/.7893 support zone we expect further upside to .8115 initially.
– EUR/JPY: Still holding 99.52/64 support zone. We continue to look for a recovery to unfold through 101.06 resistance to 102.11 and then 103.89/66 resistance.
– EUR/SEK: Rebounding higher. We look for a break back above 8.4740 for a recovery towards 8.5668.
– EUR/NOK: Gaining traction ahead of our target 7.3458 61.8% Fibonacci retracement support level. We expect a rebound back to
7.4174.
– NOK/SEK: Failing to sustain the break above 1.1492, as resistance is found at 1.1502. We continue to expect any further strength to be capped at 1.1541, with risk to 1.1287/75.
Today’s trades/positions:
– EUR/GBP: Long from .7960 targeting .8100, stop at .7880.
– EUR/JPY: Long at 101.80, added at 100.30, stop at 99.52 for 103.60.
– EUR/SEK: Buy through 8.4740 targeting 8.5660, stop at 8.4180.
– EUR/NOK: Buy at 7.3700 targeting 7.4150, stop at 7.3450.
– NOK/SEK: Sell again at 1.1500, targeting 1.1295, stop at 1.1575.
– AUD/NZD: Sell at 1.2585, target 1.2385, stop at 1.2685.
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Credit Suisse