Today’s highlights:
– GBPUSD: Advance towards the key 1.6310 chart resistance hurdle continues for now. We stress that a breakout above this major hurdle targets 1.6619 eventually.
– AUDUSD: Still in consolidation mode after finding resistance at 1.0587. Weakness is expected to hold at 1.0461, with the upward trend set to continue higher to test 1.0625
– NZDUSD: .8478 minor resistance continues to cap for now. We expect corrections to gain traction at .8360 and for the advance to persist higher to the .8530 78.6% retracement.
– USDCAD: Reversal lower from .9883 trendline resistance reinforces the current downward trend and allows for an extension through .9821 to .9795 initially and then .9733.
Today’s trades/positions:
– EURUSD: Long again at 1.3058, targeting 1.3350, stop now 1.3120. If stopped out buy again at 1.3064 targeting 1.3350, stop at 1.2900.
– USDJPY: Buy again at 83.08 targeting 84.15 stop at 82.45.
– GBPUSD: Buy at 1.6117 targeting 1.6310, stop at 1.6079.
– USDCHF: Sell at .9242 targeting .9150, stop at .9285.
– AUDUSD: Buy again at 1.0484, for 1.0620, stop at 1.0393.
– NZDUSD: Buy again at .8360 targeting .8515, stop at .8293.
– USDCAD: Sell again at .9865, for .9740, stop at .9901.
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