Today’s highlights:
– EUR/GBP: Caught in a range between .8067/78 resistance and immediate support at .8009. A breakout either side of the range is required for more direction.
– EUR/JPY: Decisive medium-term trendline break points to a re-test of the 104.45/62 resistance zone. A break above here exposes the 61.8% Fibonacci retracement of 105.43.
– EUR/SEK: Reversal lower from 8.6728 suggests a greater topping structure is underway. We expect a sell-off back to the 8.5022/99 support zone, then below here to 8.4164/8.3815.
– EUR/NOK: Bearish outside reversal day from 7.3808/58 resistance suggests the rebound is now over – ahead of our target of 7.4092. We expect a return to 7.2870.
– NOKSEK: Still in corrective mode. We see scope for the correction to bring the market back towards the 1.1635/41 support zone, before the next leg higher to 1.1809.
Today’s trades/positions:
– EUR/GBP: Long from .8033. Added at .8015. Stop/reverse through .8000, target now at .8070.
– EUR/JPY: Sell through 103.50, targeting 102.20, stop at 104.06.
– EUR/SEK: Long through 8.6350, target/reverse now 8.6350, stop/reverse now at 8.6200 (for 8.5150).
– EUR/NOK: Booked profit at 7.3400. Sell through 7.3500, targeting 7.2710, stop at 7.3870.
– NOK/SEK: Long from 1.1718, targeting 1.1870, stop at 1.1633.
– AUD/NZD: Long from 1.2750, stop at 1.2680, for 1.2920.
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