Today’s highlights:
– EURUSD: Gaining traction at the 200-day average at 1.2823, importantly ahead of the 1.2803 range low. We are turning bullish for 1.3074, then 1.3172.
– GBPUSD: Still holding the flagged cluster of support at 1.5959/60/66. A breakout above 1.6050 would complete a base and signal the beginning of a recovery up to 1.6310.
– NZDUSD: Looking more and more constructive again as the market continues to hold the key 38.2% Fibonacci retracement level of .8137. We see risk up to .8267.
Today’s trades/positions:
– EURUSD: Short from 1.2910, target/reverse to long at 1.2850, stop/reverse through 1.2875 (for 1.3150).
– USDJPY: Long again from 78.38, target 79.80, stop 77.76.
– GBPUSD: Stopped out in the money at 1.6010 and reversed long again targeting 1.6250, stop now at 1.5950.
– USDCHF: Long from .9380 target/reverse at .9400, stop/reverse through .9380, for .9285.
– AUDUSD: Short at 1.0180, stop/reverse through 1.0300, target reverse now at 1.0260 (for 1.0460).
– NZDUSD: Short at .8153, added at .8241, target/reverse at .8170, stop/reverse through .8190 (for .8320).
– USDCAD: Target met and reversed long from .9770, for .9933, stop at .9690.
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