Today’s highlights:
– EURUSD: Expected recovery higher brings market back towards initial target resistance at 1.3300/09. We expect a breakout above here and extension higher to 1.3487/93.
– AUDUSD: Market falls shy of our target 1.0625 range high, finding resistance at 1.0602. We expect a reversal lower form here back to challenge trendline support at 1.0443
– USDJPY: The 78.6% Fibonacci target of 90.84 is in focus after the decisive break above 88.40.
– NZDUSD: Failing ahead of the key .8478 chart hurdle. We now envisage a top unfolding here with risk through .8383 to .8286.
Today’s trades/positions:
– EURUSD: Long from 1.3000, target extended to 1.3365, stop tightened to 1.3165.
– USDJPY: Buy at 88.65, targeting 90.50, stop at 87.85.
– GBPUSD: Stopped out and reversed long through 1.6090, target set at 1.6235, stop now at 1.6030.
– USDCHF: Unwanted long from .9230, target/reverse now .9175, stop at .9120.
– AUDUSD: Sell at 1.0570 targeting 1.0410, stop at 1.0645.
– NZDUSD: Long from .8230 targeting .8500, stop/reverse now through .8410 (for .8300).
– USDCAD: Short from .9870 for .9730, stop now at .9885.
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