Today’s highlights:
– EURUSD: Reversal on Friday from resistance found at 1.2838 turns the focus lower to the 1.2740 38.2% retracement which is expected to hold.
– USDJPY: Bullish outside day on Friday unfolds after support is found at 77.42 – importantly ahead of the 77.13 low. We expect a recovery up to 78.38, then towards 79.23.
– GBPUSD: Reversal lower from resistance found at 1.6074 sees the market revert to the 38.2% retracement/trendline support zone placed at 1.6098/70.
Today’s trades/positions:
– EURUSD: Long at 1.2915, added at 1.2840, stop at 1.2762, target at 1.3040.
– USDJPY: Long from 77.60, targeting 79.05, stop at 77.10.
– GBPUSD: Stopped out at 1.6170. Buy at 1.6098, targeting 1.6240, stop at 1.6050.
– USDCHF: Sell again at .9450 targeting .9255, stop at .9492.
– AUDUSD: Stopped out at 1.0358. Buy through 1.0370 targeting 1.0520, stop at 1.0320.
– NZDUSD: Long from .8306, targeting .8448, stop at .8239.
– USDCAD: Buy again at .9734, targeting .9840, stop at .9715.
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Credit Suisse