Today’s highlights:
– EUR/GBP: Stalling at .8100 trendline resistance. We expect corrective weakness to find support at .8025. The bias remains broadly higher through .8115 to .8157 then .8263.
– EUR/JPY: Correction back towards 100.72 continues. Some overshoot below here, but we expect it to remain above 99.52/64 support, with risk still higher to 103.89.
– EUR/SEK: Still capped by resistance placed at 8.6459, and reverting lower towards initial support at 8.5635. Some overshoot below here but we expect 8.4892 support to hold firm, with bias to 8.7901.
– EUR/NOK: Support found at 7.3826 which eases short-term bear risks. We remain broadly bullish targeting through 7.4445 to 7.4647.
– NOK/SEK: Correcting lower, but after the break above 1.1634 we continue to expect an advance higher to the 61.8% Fibonacci
retracement hurdle of 1.1737.
Today’s trades/positions:
– EUR/GBP: Target met at .8100. Buy at .8030, target, .8250, stop .7922.
– EUR/JPY: Long at 101.80, added at 100.30, stop now 99.52 for 103.60.
– EUR/SEK: Buy again at 8.5001 targeting 8.6200, stop at 8.4350.
– EUR/NOK: Long from 7.3700 target now 7.4500, stop at 7.3825. Buy again at 7.3660, targeting 7.4600, stop at 7.3400.
– NOK/SEK: Buy at 1.1575, targeting 1.1700, stop/reverse at 1.1510.
– AUD/NZD: Short from 1.2485, target 1.2365, stop at 1.2536.
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Credit Suisse