Today’s highlights:
– EUR/GBP: Selling pressure has extended and beneath .7984/78 would see a more bearish turn for .7923/12.
– EUR/JPY: The break of former trend support now at 102.30 sets a top and flags a deeper setback to 101.03 then 100.16/99.36.
– EUR/SEK: A top remains in place and we look for weakness to extend to 8.5099. We would look for bounce here, but below would set a bigger top 8.4164.
– EUR/NOK: The 7.3144/3039 price support is holding for now, but only above 7.3677 would put in a small base.
– NOKSEK: A bearish outside day turns the focus back on support in the range initially at 1.1635/24. Below would see a setback to
1.1570/53.
– AUDNZD: A firmer base has been confirmed and we look for strength to extend up to 1.2814 next.
Today’s trades/positions:
– EUR/GBP: Sell at .8008, stop above .8033 for .7925.
– EUR/JPY: Flat, sell at 103.44, stop above 104.06 for 101.05.
– EUR/SEK: Short through 8.6300, target extended to 8.5170, stop/reverse now 8.5850 (for 8.6450).
– EUR/NOK: Buy at 7.3150 targeting 7.3650, stop at 7.2990.
– NOK/SEK: Target met and reversed short from 1.1684, target 1.1580, stop at 1.1761.
– AUD/NZD: Flat, buy at 1.2700, stop below 1.2645 for 1.2810.
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