Today’s highlights:
– EURUSD: Range-bound for now, between 1.2803 support and resistance at 1.3140. Friday’s doji reversal warns of a rebound higher
within this range back to 1.3024.
– USDJPY: Sharp bearish reversal lower from resistance found at 80.39 signals a bearish trend change. We see risk lower to the 79.12/14 support zone where we look for renewed buying interest to reemerge.
– AUDUSD: Stuck in a range between 1.0399/1.0413 resistance and key short-term support at 1.0236. A break above 1.0399/1.0413 exposes 1.0443, then 1.0521.
– USDCAD: Breakout above .9977 trendline/channel resistance warns of a continuation higher towards 1.0086.
Today’s trades/positions:
– EURUSD: Long from 1.3060, for 1.3260, stop at 1.2860.
– USDJPY: Buy again at 79.25, targeting 80.55, stop at 78.98.
– GBPUSD: Short from 1.6120, targeting 1.5950, stop at 1.6184.
– USDCHF: Long from .9345, add at .9292, targeting .9439, stop now at .9345.
– AUDUSD: Short through 1.0262, added at 1.0336, target now at 1.0150, stop at 1.0400.
– NZDUSD: Long from .8170, targeting .8340, stop at .8100.
– USDCAD: Stopped out at .9976. Buy at .9900, targeting 1.0040, stop at .9840.
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Credit Suisse