Today’s highlights:
– EURUSD: Prod above 1.2960 is capped at 1.2970 for now but broader recovery risk still intact whilst above 1.2803/1.2740 support zone for 1.3172.
– GBPUSD: The focus remains on the key 1.6098/70 38.2% Fibonacci retracement/trendline support zone. Only a breach below signals a near-term top.
– NZDUSD: Still range bound but selling off back to challenge key support at .8190/84. A break lower would complete a top for .8080/84.
– AUDUSD: Dramatic decline continues with the focus now on the medium-term range low placed at 1.0167. A breakdown through here would signal a top, with risk to .9969/3.
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: Buy at 1.6105, target 1.6240, stop/reverse 1.6066.
– USDCHF: Short from .9370 targeting .9240, stop at .9440.
– AUDUSD: Long from 1.0280, targeting 1.0520, stop at 1.0165.
– NZDUSD: Long from .8306, targeting .8448, stop/reverse through .8178 (for .8085).
– USDCAD: Buy through .9860 targeting .9940, stop at .9800.
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Credit Suisse