Today’s highlights:
– EURUSD: Continuing to hold support at 1.3249 for now. We continue to expect the market to rebound higher from here back through 1.3404 to challenge 1.3487 initially.
– GBPUSD: Probing the key medium-term upward trendline support at 1.5976. We look for this to hold now and for the market to rebound higher back to 1.6178 resistance.
– USDJPY: Support found at 87.80, ahead of the key level of 86.82. Therefore the uptrend remains intact and we remain bullish for through 89.67 to 90.00/84.
– AUDUSD: Top completion through prior range support at 1.0521 allows for the expected decline towards 1.0394 to now unfold. Note trendline support initially at 1.0458.
Today’s trades/positions:
– EURUSD: Target met and reversed long again from 1.3260, add at 1.3160, for 1.3480, stop at 1.3060.
– USDJPY: Long from 88.65, add at 87.30, targeting 90.50, stop widened to 86.75.
– GBPUSD: Target met at 1.5995. Buy through 1.6025 targeting 1.6175, stop at 1.5940.
– USDCHF: Long from .9250 target .9628 stop at .9060.
– AUDUSD: Short from 1.0570 targeting 1.0462, stop now 1.0570.
– NZDUSD: Short through .8410, target now .8290. Stop now .8479.
– USDCAD: Scratched short at .9870. Sell again at .9905 targeting .9735, stop at .9930.
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