Today’s highlights:
– EURUSD: Reversal on Friday from resistance found at 1.3074 ahead of the 78.6% retracement of 1.3093 turns the focus lower once again, with risk back to 1.2803/1.2740.
– GBPUSD: Still in corrective mode. After the reversal lower from 1.6217, we expect a deeper correction lower now for through 1.6064 to challenge the 1.5959/66 support cluster.
– AUDUSD: Failure ahead of 1.0321 throwback resistance and the subsequent removal of 1.0167 turns signal a medium-term top, with risk now back to .9963/69 support.
Today’s trades/positions:
– EURUSD: Target met at 1.3040. Sell at 1.3015, targeting 1.2780, stop at 1.3098.
– USDJPY: Target met at 78.80. Buy again 78.38, targeting 79.80, stop at 77.76.
– GBPUSD: Reversed long again at 1.6191, added at 1.6105, target/reverse now 1.6120, stop/reverse 1.6100 (for 1.5970).
– USDCHF: Short from .9370, target/reverse now .9300, stop/reverse .9330 (for .9422).
– AUDUSD: Stopped out at 1.0165. Sell at 1.0180, targeting .9980, stop at 1.0280.
– NZDUSD: Target met and reversed to unwanted long at.8200. Reverse to short at .8175, or through .8153, targeting .8020, stop at .8267.
– USDCAD: Short through .9800, stop/reverse at .9780, targeting/reverse to long at .9770, for .9933, stop at .9690.
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Credit Suisse