Today’s highlights:
– USDJPY: Approaching the 78.6% Fibonacci retracement hurdle of 82.68. Overextended to the upside, and thus we look for a correction back towards 81.13 before we target 84.19.
– EURUSD: Prodding above the 1.2844 38.2% Fibonacci retracement hurdle, which we expected to cap. We stress that a breakout above 1.2877 is needed for a base for 1.3024.
– GBPUSD: The market continues to target the 1.6044/21 resistance zone. We would expect the market to remain capped here for now.
– NZDUSD: .8208 interim chart resistance holding firm. With the focus turning lower again for back through .8052 eventually, to challenge our near-term target of .8012.
Today’s trades/positions:
– EURUSD: Scratched short at 1.2815. Sell through 1.2832, targeting 1.2680, stop at 1.2885.
– USDJPY: Buy at 81.15, add at 80.68, targeting 84.10, stop at 80.00.
– GBPUSD: Long from 1.5840, stop now at 1.5926, targeting 1.5999.
– USDCHF: Stopped out at 9359. Buy through .9395 targeting .9600, stop at .9340.
– 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/reverse at 1.0000 (1.0080).
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