Today’s highlights:
– EURUSD: Downtrend continues lower, and after the break through 1.2740 the focus now shifts to the 1.2502/1.2474 support cluster.
– GBPUSD: Downtrend continues lower to challenge the 200-day average located at 1.5851. We see risk of continuation below here to 1.5772 trendline support.
– USDCAD: Back probing the 1.0040 50% retracement hurdle. The focus looks set to remain higher for now, whilst above .9947. Above 1.0040 sees 1.0086.
Today’s trades/positions:
– EURUSD: Short. Add at 1.2855/75, stop at 1.2890. Take profit at 1.2510.
– USDJPY: Stopped out at 79.12. Buy again at 79.40 or through 79.62, for 80.55, stop at 79.05.
– GBPUSD: Sell at 1.5940, targeting 1.5801, stop at 1.6005.
– USDCHF: Go long at .9460, targeting .9610, stop at .9379.
– AUDUSD: Long at 1.0375, stop below 1.0330. Take profit at 1.0520.
– NZDUSD: Buy at .8110/00, stop below .8080, targeting .8230.
– USDCAD: Go long again at .9960, stop below .9925. Take profit at 1.0076.
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Credit Suisse