Today’s highlights:
– EURUSD: ‘Evening star’ reversal pattern turns the focus back on trendline support now at 1.2916. We expect a break below here for
1.2803/1.2740 support.
– USDJPY: Still threatening to complete a medium-term base. We see risk through 79.23/33 key resistance – with risk then higher to
80.56/63.
– USDCHF: Recovery effort continues to unfold, with the market now approaching key .9389 trendline resistance. We expect an upside break above here for .9439.
– USDCAD: Market still holds flagged support at .9724. We expect a continuation through .9887 to challenge key resistance at .9933/50.
Today’s trades/positions:
– EURUSD: Sell at 1.2985, targeting 1.2916 stop at 1.3025.
– USDJPY: Long again from 78.38, target 79.80, stop 77.76.
– GBPUSD: Reversed short through 1.6100, for 1.5970, stop 1.6155.
– USDCHF: Reversed long at .9330, for .9435, stop at .9280.
– AUDUSD: Short at 1.0180, add at 1.0310, targeting 1.0005, stop now at 1.0375.
– NZDUSD: Short at .8153, add at .8241, targeting .8020, stop now at .8341.
– 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