Today’s highlights:
– EURUSD will ideally hold below 1.2875/86 to maintain its top, for a decline to 1.2502/1.2474.
– USDCHF is expected to hold support at .9380 to maintain its base, for further strength to .9503 next.
– USDJPY retreats back to key price and 38.2% retracement support at 79.32/28, but we look for this to again hold.
– USDCAD stays strong after its bullish “reversal day”, and we stay bullish for a test of 1.0021/40.
– NZDUSD weakness has been arrested ahead of key support at .8101/.8080, and we look for this to remain a floor.
– AUDUSD needs to hold 1.0378/55 to suggest its immediate risk remains higher.
Today’s trades/positions:
– EURUSD: Short. Add at 1.255/75, target 1.2510, stop above 1.2890.
– USDJPY: Long from 79.95, targeting 81.30, stop at 79.12.
– GBPUSD: Flat. Sell at 1.6032/42, targeting 1.5915. Stop/reverse above 1.6055.
– USDCHF: Go long at .9405, 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 took profit at .9999. Go long again at .9960, target 1.0040. Stop below .9925.
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