Today’s highlights:
– EUR/GBP: Decline lower persists, with the market breaking immediate trendline support at .8020. We expect a continuation lower to .7923/12.
– EUR/JPY: Market remains capped by downward trendline as expected. We look for 104.06 and 104.45/62 to continue to cap, with
risk to 102.17. Below sees 100.16.
– EUR/SEK: Support found at 8.5833, and we expect a brief rebound higher. However, we look for 8.6841 to continue to cap, with risk still broadly lower for 8.5099.
– EUR/NOK: Prodding below trendline support, which now allows for a continuation in the current sell-off down to 7.3573/7.3458 support.
– NOK/SEK: Aggressive breakout higher through 1.1624 and 1.1666 prior hurdles exposes the high of 1.1754 once again.
Today’s trades/positions:
– EUR/GBP: Short from .8055, targeting .7945, stop at .8110.
– EUR/JPY: Stopped out at 103.80. Sell again at 103.40 for 101.20, stop at 104.48.
– EUR/SEK: Short through 8.6300, add at 8.6700, for 8.5500, stop at 8.7180.
– EUR/NOK: Target met at 7.3850. Sell again at 7.3810, for 7.3505, stop/reverse through 7.4000.
– NOK/SEK: Took profit at 1.1612. Buy at 1.1654, targeting 1.1800, stop at 1.1580.
– AUD/NZD: Short from 1.2660, targeting 1.2505, stop at 1.2701.
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