Today’s highlights:
– EUR/GBP: Reversal lower now probing the .8033 61.8% retracement. There exists a lot of support close by at .8019 and .8006/1, which we expect to hold.
– EUR/JPY: Correction continues for back towards 105.28/64 throwback support. We remain bullish for 111.45, and look for this support zone to hold.
– EUR/SEK: Still trading erratically, within a triangular wedge pattern. We reiterate that whilst capped by 8.6789/6.6829 resistance, we remain bearish for 8.5099/22 initially.
– EUR/NOK: Rebounding from support found at 7.3153. However after last week’s flag pattern completion, to risk is still skewed lower to 7.2870 initially, and then 7.2592/04.
– NOKSEK: Recovering back up towards the 1.1792 interim chart resistance hurdle. The broader upward trend is still dominant and we expect a break above 1.1818 to 1.1879
Today’s trades/positions:
– EUR/GBP: Stopped out at .8049. Buy at .8022, add at .8006, targeting .8145, stop at .7958.
– EUR/JPY: Short through 107.48 target/reverse 105.80 stop/reverse now at 106.65 (for 110.65).
– EUR/SEK: Short from 8.6100 targeting 8.4510, stop at 8.6835.
– EUR/NOK: Short from 7.3700 targeting 7.3004 stop now 7.3600.
– NOK/SEK: Average long from 1.1730, for 1.1872, stop at 1.1672.
– AUD/NZD: Short from at 1.2650 targeting 1.2425 stop at 1.2714.
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