Today’s highlights:
– EURUSD: Approaching the key 1.2844 38.2% Fibonacci retracement hurdle. We expect this to cap and for the market to reverse lower back to 1.2662, then 1.2502.
– AUDUSD: Approaching important topping trendline and chart resistance zone at 1.0449/61. We look for a failure here followed by a reversal lower back to 1.0288 initially.
– USDCAD: Market reverts towards our target support level of .9947. Risk of continuation lower for now for through .9947/39 to target .9895/72 support zone.
– USDCHF: Correction continues lower towards .9380/64 chart/trendline support zone. We look for the market to hold here and to resume its advance towards .9610/37
Today’s trades/positions:
– EURUSD: Short at 1.2800, add at 1.2830, stop at 1.2877, target 1.2530.
– USDJPY: Short from 81.25 targeting 80.56, stop at 81.65.
– GBPUSD: Long from 1.5840, add at 1.5801, stop at 1.5760, targeting 1.5999.
– USDCHF: Long from .9432, targeting .9610, stop now .9359.
– AUDUSD: Short from 1.0315, added at 1.0420, targeting 1.0170, stop at 1.0465.
– NZDUSD: Short from .8110, added at .8155, targeting .8012, stop at .8210. Sell again at .8242 if stopped out.
– USDCAD: Short from .9992, targeting .9905, stop now at 1.0019.
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