Today’s highlights:
– EURUSD: Range-bound going into the ECB. We expect 1.2803 support to hold firm with breakout risk higher for 1.3048 and then 1.3172.
– GBPUSD: Intermediate-term upward trendline break paves the way for risk towards 1.5960/66 support cluster, which we expect to hold.
– USDJPY: Market is poised at the medium-term downward trendline hurdle of 78.83. We expect an upside break above here to target 79.23.
– AUDUSD: Holding range support zone at 1.0167 for now. However only a recovery back above 1.0321 resistance would allow for a rebound higher to 1.0521.
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: Short through 1.6066, target/reverse 1.5970, stop/reverse at 1.6191 (for 1.6300).
– USDCHF: Short from .9370 targeting .9240, stop at .9440.
– AUDUSD: Long from 1.0280, targeting 1.0520, stop at 1.0165.
– NZDUSD: Reversed short through .8178 target/reverse .8091, stop/reverse through .8278.
– USDCAD: Long through .9860 target/reverse .9930, stop/reverse at .9800 (.9725).
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