Today’s highlights:
– EUR/GBP: Bearish reversal ahead of the .8166/7 resistance, suggests a correction lower from .8156 is underway. However we expect this to be limited to .8097.
– EUR/JPY: Correcting lower from the 111.19-111.45 resistance zone. Some consolidation likely back towards 107.98, however, broadly, the risk remains higher for 116.62.
– EUR/SEK: Correcting lower from the 8.7901/45 resistance zone. Scope for a correction back towards 8.6735 throwback support, before further upside towards 8.9576.
– EUR/NOK: Resistance at 7.4092 continues to cap the market. Whilst capped by this resistance hurdle, we see risk lower through 7.3510 to interim chart support at 7.3153.
– NOKSEK: Market remains capped by the 1.1932 long-term tentative downward trendline. We have turned bearish at these levels and expect a return lower to 1.1553 support.
Today’s trades/positions:
– EUR/GBP: Long through .8075, targeting .8250, stop now at .8090.
– EUR/JPY: Flat. Buy at 108.15, targeting 114.50, stop at 105.80.
– EUR/SEK: Buy at 8.6945 targeting 8.8350, stop at 8.6350.
– EUR/NOK: Short from 7.3800, targeting 7.2920, stop at 7.4100.
– NOK/SEK: Short from 1.1845, add at 1.1935 targeting 1.1575, stop at 1.2063.
– AUD/NZD: Re-sell at 1.2580, for 1.2410, stop at 1.2655.
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