Today’s highlights:
– EUR/GBP: Trendline break through .8000/.7990 paves the way for further downside risk to .7923/12 chart/61.8% retracement support.
– EUR/JPY: Failure at 104.02 sees the focus revert lower once again for back to 102.17 chart and trendline support. We highlight a top is confirmed through here – for 100.16.
– EUR/SEK: Trending lower, after its recent medium-term trendline break. We remain bearish and target the 38.2% Fibonacci retracement support level of 8.5099.
– EUR/NOK: Medium-term top completion through 7.3522 keeps the focus skewed lower to 7.3144/7.3039. We expect rebounds to be
capped by 7.3868.
– NOKSEK: 1.1754 resistance continues to cap with price reverting lower within the current range, for back to 1.1624, and then likely to 1.1553.
Today’s trades/positions:
– EUR/GBP: Short from .8055, targeting .7945, stop at .8110.
– EUR/JPY: Short from 103.40 for 101.20, stop at 104.48.
– EUR/SEK: Short through 8.6300, target extended to 8.5170, stop now at 8.6300.
– EUR/NOK: Sell again at 7.3810, for 7.3505, stop/reverse at 7.4000.
– NOK/SEK: Long from 1.1667, target/reverse now at 1.1684, stop/reverse through 1.1659 (for 1.1574).
– AUD/NZD: Short from 1.2660, targeting 1.2505, stop at 1.2701.
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Credit Suisse