Today’s highlights:
– EUR/GBP: Stuck within a range between .8067/78 resistance and .8006/9 support. The bias is shifting higher for a push through .8078 towards .8166.
– EUR/JPY: Acceleration through 104.83 paves the way for further upside eventually to 107.74, but we first expect a correction back to 104.62.
– EUR/SEK: Bearish outside day negates the prior bullish threat and keeps our bearish stance intact, as 8.7178 holds firm. We see risk lower to 8.5099/22 and then 8.3815.
– EUR/NOK: Decline finds minimal support at 7.3190, but we expect broader risk to remain lower for 7.2870 and then eventually the 7.2592/04 support zone.
– NOKSEK: Threatening a top again after failing at 1.1818. A break below trendline support at 1.1743 sees risk lower to 1.1715 and then 1.1643/35 longer-term support.
Today’s trades/positions:
– EUR/GBP: Long from at .8033. Added at .8015. Stop/reverse through .8000 (for .7916), target now at .8125.
– EUR/JPY: Buy at 102.30, targeting 107.50, stop at 99.95.
– EUR/SEK: Short at 8.6350, add at 8.6950, for 8.5150, stop at 8.7178.
– EUR/NOK: Short from 7.3500, targeting 7.2710, stop at 7.3870.
– NOK/SEK: Long from 1.1718 targeting 1.1870, stop/reverse through 1.1743 (for 1.1652).
– AUD/NZD: Long from 1.2750 stop at 1.2680, for 1.2920.
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