Today’s highlights:
– EUR/GBP: Correcting back to throwback support at .8059. Whilst above trend support at .8027, however, the bias remains higher through .8114 to 8.166 and then .8221/63.
– EUR/JPY: Correcting lower back to 105.36. Some overshoot below here to 104.10/103.04 which should then hold.
– EUR/SEK: Sharp rally higher sees the removal of 8.6360. The focus is now on 8.6829/8.7178 resistance zone. We look for this to cap and for a reversal back to 8.5593.
– EUR/NOK: Break above 7.3547 initial resistance exposes the more critical 7.3808/58 resistance zone. We look for the latter to cap, with risk lower to 7.2870, then 7.2592/04.
Today’s trades/positions:
– EUR/GBP: Booked profit at .8072. Buy again at .8032 targeting .8158, stop at .8002.
– EUR/JPY: Buy 50% at 105.32, add 50% at 104.12, targeting 107.74, stop at 103.02.
– EUR/SEK: Scratched short at 8.6360. Sell again at 8.6600 targeting 8.5150, stop at 8.7200.
– EUR/NOK: Short again at 7.3500, targeting 7.2650, stop at 7.3870.
– NOK/SEK: Stopped out and reversed long at 1.1760, add at 1.1700, for 1.1872, stop at 1.1672.
- AUD/NZD: Sell at 1.2700, added at 1.2730, targeting 1.2635, stop/reverse now through 1.2754 (for 1.2870).
Click here to read the full report: FX Daily
Credit Suisse