Today’s highlights:
– EUR/GBP: Break above .8010 resistance allows for risk up to .8101 trendline resistance and then .8115. Longer term we reiterate our .8263 target.
– EUR/JPY: Probing 102.11 resistance, we expect the market to break through here to retest the 103.89/66 resistance highs.
– EUR/SEK: Threatening the 8.6459 high. We expect the market to break out above here to target the 61.8% retracement at 8.7901.
– EUR/NOK: Aggressive upside breakout through trendline resistance allows for a test of 7.4647. A breakout through here sees risk up to 7.5002/47.
– NOK/SEK: Aggressive extension higher through 1.1573/94 allows for a continuation in trend up to the 61.8% retracement located at 1.1737.
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: Target met at 8.5660. Buy again at 8.5001 targeting 8.6200, stop at 8.4350.
– EUR/NOK: Long from 7.3700 target now 7.4500, stop at 7.3450.
– NOK/SEK: Stopped out at1.1575. Buy at 1.1531 targeting 1.1715, stop at 1.1490.
– AUD/NZD: Sell at 1.2485, target 1.2365, stop at 1.2535.
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