Today’s highlights:
– EURUSD: 1.2885/2 support holds for a fourth time. Despite this the market remains capped by 1.3024 and therefore within a downtrend. We see risk through 1.2885/68 to 1.2740.
– USDCHF: Probing the critical .9290 chart support level after price breaks below its near-term upward trendline. The market needs to hold above .9290 for risk to remain higher.
– NZDUSD: Trapped within a range for now, but the bias remains skewed towards an upside break through .8244/67, which should
allow for an extension higher to .8341/60.
– Market beginning to struggle at its medium-term upward price channel. We see risk of a correction lower towards .9938 initially.
Today’s trades/positions:
– EURUSD: Long from 1.3060, target/reverse now at 1.2990, stop/reverse 1.2950 (for 1.2750).
– USDJPY: Short from 79.55, targeting 78.45, stop at 79.95.
– GBPUSD: Short from 1.6120 targeting 1.5950, stop now at 1.6155.
– USDCHF: Long at .9345, add at .9315 targeting .9500, stop at .9280.
– AUDUSD: Short through 1.0262, added at 1.0336, target now at 1.0150, stop now 1.0450.
– NZDUSD: Long from .8170 targeting .8340, stop now at .8148.
– USDCAD: Sell through .9982 target/reverse back to long at .9906, stop at 1.0023.
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