Today’s highlights:
– EURGBP: Decisive break through .8228 and .8263 resistance hurdles keeps the focus higher to next major resistance at .8346. Above here, exposes .8507.
– EUR/JPY: Rally relentlessly continues higher and is now fast approaching 121.94 target, a 61.8% Fibonacci retracement resistance.
– EUR/SEK: Rebound brings the market back up to challenge the 200-day average located at 8.6525. We expect a reversal lower from here with risk back to 8.5057/22 support.
– EUR/AUD: Sharp rally brings the market up to target resistance at 1.2729/15. Some consolidation is expected before continued upside to 1.2850 trendline resistance.
Today’s trades/positions:
– EUR/GBP: Target met at .8250. Buy again at .8214, targeting .8345, stop at .8165.
– EUR/JPY: Buy at 116.05 targeting 119.95, stop at 114.15.
– EUR/SEK: Target met at 8.6400. Sell at 8.6200, target 8.5125, stop 8.6750
– EUR/NOK: Long from 7.3200 targeting 7.4000, stop/reverse now at 7.3600 (for 7.3000).
– EUR/AUD: Target met at 1.2690. Buy again at 1.2585, add at 1.2550, targeting 1.2830, stop at 1.2400.
– EUR/NZD: Long from 1.5612 targeting 1.6015, stop at 1.5875. Re-buy at 1.5735 targeting 1.6160, stop at 1.5600.
– EUR/CAD: Target met at 1.3030. Buy again at 1.2970 targeting 1.3177, stop at 1.2855.
Click here to read the full report: FX Daily
Credit Suisse