Today’s highlights:
– EUR/GBP: Market posts a bearish outside day, suggests correction set to continue to .7978. Broadly, we still see risk higher through
.8103/15 to .8115 and then ultimately .8263.
– EUR/JPY: Correction lower continues through the medium-term upward trendline. We flag next support at 99.78, however whilst above 99.52/64 we risk higher to 103.89.
– EUR/SEK: Breakout looming. We expect a push through 8.6459 resistance today to complete a bullish flag pattern, and to allow for an extension higher to the 200 DMA (8.7258).
– EUR/NOK: Grind lower persists for now, but we expect this to hold above 7.3522 support, and for a rebound higher back up to 7.4445 resistance again.
– NOK/SEK: Breakout higher through 1.1634 resistance paves the way for risk higher to 1.1737 – 61.8% Fibonacci retracement.
Today’s trades/positions:
– EUR/GBP: Buy at .8030, targeting .8250, stop at .7922.
– EUR/JPY: Long at 101.80, added at 100.30, stop now at 99.52 for 103.60.
– EUR/SEK: Buy through 8.6400, targeting 8.7250, stop at 8.5910.
– EUR/NOK: Stopped out in the money at 7.3825. Buy again at 7.3660, targeting 7.4600, stop at 7.3400.
– NOK/SEK: Sell at 1.1720 targeting 1.1520, stop at 1.1755.
– AUD/NZD: Short from 1.2485, target 1.2365, stop/reverse now at 1.2525.
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Credit Suisse