Today’s highlights:
– EUR/GBP: Threatening short term resistance at .8033 after defending the .7961/0 support zone yet again. Increasing signs of basing, but above .8033 required for .8078.
– EUR/JPY: Removal of 101.77 interim resistance allows for an advance higher to the 200 DMA at 102.16. Above here would see a continuation higher towards 103.44.
– EUR/SEK: Advance continue higher and the market is now within striking distance of 8.6470. A break above here sees an extension unfold higher to 8.7178 resistance high.
– EUR/NOK: Upside breakout occurs as expected. We expect a recovery effort higher to 7.3677 initially.
– NOKSEK: Advance continues towards 1..1809. We expect a breakout above here and continuation higher to 1.1879.
– AUDNZD: Still struggling at channel return line resistance and the 1.2814 61.8% Fibonacci retracement hurdle. Scope for a correction back to 1.2701, but risk higher to 1.2882.
Today’s trades/positions:
– EUR/GBP: Short from .8008, stop/reverse .8033, target/reverse .8005.
– EUR/JPY: Buy at 101.40 targeting 103.00, stop at 100.00.
– EUR/SEK: Unwanted short from 8.6150, target/reverse now 8.6200, stop/reverse at 8.6350 (for 8.7100).
– EUR/NOK: Short from 7.3375, stop/reverse to long through 7.3380, target/reverse at 7.3250 (for 7.4000).
– NOK/SEK: Buy at 1.1718 targeting 1.1870, stop at 1.1633.
– AUD/NZD: Flat, buy at 1.2705 stop below 1.2645, for 1.2810.
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Credit Suisse