Today’s highlights:
– EURUSD: Trendline break exposes 1.2791 resistance. Scope for a brief prod above here to the 38.2% Fibonacci retracement hurdle of 1.2844, which should then cap.
– GBPUSD: Removal of the 200-day average now allows the decline to target the 1.5790/81 retracement/trendline support zone, which should hold.
– USDJPY: Breakout above 80.68 sees the focus turn to our medium term target retracement hurdle of 81.49.
Today’s trades/positions:
– EURUSD: Buy at 1.2704 target/reverse 1.2832, stop at 1.2660.
– USDJPY: Target met at 80.55. Buy again at 80.25, targeting 81.40, stop at 79.80.
– GBPUSD: Sell at 1.5940, add at 1.5995, stop at 1.6030, target 1.5781.
– USDCHF: Long from .9432, targeting .9610, stop at .9379.
– AUDUSD: Book profit at 1.0395. Sell at 1.0380 targeting 1.0240, 1.0450.
– NZDUSD: Stopped out at .8105. Sell at .8110, add at .8155, targeting .8012, stop at .8210.
– USDCAD: Go long again at .9960, stop below .9925. Take profit at 1.0076.
Click here to read the full report: FX Daily
Credit Suisse