Today’s highlights:
– EURUSD: Probing the 1.3284 hurdle now. We expect the market to break out eventually through here and persist higher to 1.3388 and then 1.3487.
– USDJPY: Upward trend continues steadily higher with the next immediate target set at 85.54 chart resistance.
– USDCHF: Decline lower continues after the removal of .9150 78.6% retracement support. The focus is now on .9043 long-term support.
– AUDUSD: Reverting back towards the medium-term trendline support zone of 1.0480/61. We expect the market to gain traction here, with broad risk remaining higher to 1.0625.
Today’s trades/positions:
– EURUSD: Long again at 1.3058, targeting 1.3350, stop now 1.3215. 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 1.6167, targeting 1.6310, stop at 1.6099.
– 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: Short from .9865, for .9740, stop/reverse at .9901 (for .9951).
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Credit Suisse