Today’s highlights:
– EURUSD completes a bearish “outside range” day, but needs to remove 38.2% retracement support at 1.2740 to reinforce the top.
– USDCHF stages a strong recovery to maintain its base, and we look for further strength to .9503 next.
– NZDUSD completes a bearish “reversal day”, warning of a retest of .8101/.8080, which we look to hold again.
– AUDUSD needs to hold 1.0355/31 to suggest its immediate risk remains higher.
– USDJPY spotlight remains on key resistance at 80.63/68, with an eventual break higher expected, for 81.49.
Today’s trades/positions:
– EURUSD: Sell at 1.2825, targeting 1.2510, stop above 1.2890.
– USDJPY: Long from 79.95 targeting 81.30, stop at 79.24.
– GBPUSD: Flat. Sell at 1.6032/42, targeting 1.5915. Stop/reverse above 1.6055.
– USDCHF: Go long at .9400, targeting .9500, stop at .9370.
– AUDUSD: Flat. Go long at 1.0375/55, targeting 1.0520. Stop below 1.0330.
– NZDUSD: Flat. Sell at .8230, targeting .8110/00. Stop above .8265.
– USDCAD: Long at .9886 targeting .9999, stop at .9845.
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