Today’s highlights:
– EURUSD: Market completes a top through neckline support at 1.2870, while also prodding below the 200-day MA. We see risk to 1.2740. Below here exposes 1.2502.
– GBPUSD: Sharp reversal lower from 1.6176 resistance sees the market challenge 1.6006 interim support. We remain of the view that a break below should target 1.5914/1.5873.
– AUDUSD: Threatening a top ahead of the 1.0443 61.8% retracement. We expect a test of the 1.0305/1.0280 trendline support cluster. Below exposes 1.0149.
– USDCHF: Inverted head and shoulders base warns of a sustainable rally higher back towards .9610/37.
Today’s trades/positions:
– EURUSD: Short from 1.2950, target now 1.2770, stop now at 1.2900.
– USDJPY: Target met at 80.50. Buy again at 79.70 targeting 81.30, stop at 79.24.
– GBPUSD: Short from 1.6084 targeting 1.5887, stop at 1.6183.
– USDCHF: Long from .9315 target extended to .9499, stop at .9265.
– AUDUSD: Short through 1.0262, added at 1.0336, target now at 1.0150, stop now 1.0450.
– NZDUSD: Long from .8170 target .8265, stop/reverse through .8238 (for .8120).
– USDCAD: Short from .9958, reverse to long through .9958 targeting 1.0080, stop at .9921.
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