Today’s highlights:
– EUR/GBP: Breakout above .8507 exposes the 61.8% Fibonacci retracement resistance hurdle of .8577.
– EUR/JPY: Prod above 121.94 retracement resistance warns of a test of 123.35, however, a break above the latter is needed to allow for a continuation up to 127.94/129.50.
– EUR/AUD: Strong breakout above key neckline and trendline resistance. This completes a major base and suggests a continuation higher to 1.3228/96 resistance.
– EUR/CAD: Aggressive breakout through 1.3521 61.8% Fibonacci retracement resistance implies an eventual continuation in trend up to 1.3899.
Today’s trades/positions:
– EUR/GBP: Stopped out at .8507. Sell through .8510, targeting .8380, stop at .8578.
– EUR/JPY: Short from 121.85, targeting 117.20, stop at 123.45.
– EUR/SEK: Short from 8.6650, target 8.5100, stop at 8.7200.
– EUR/NOK: Stopped out and reversed long at 7.4335, add at 7.3950. Target 7.4950, stop at 7.3868.
– EUR/AUD: Flat. Buy at 1.2835, targeting 1.3280, stop at 1.2700.
– EUR/NZD: Long from 1.5940. Target now 1.6200, stop/reverse now at 1.5954.
– EUR/CAD: Stopped out at 1.3540. Buy at 1.3385, targeting 1.3780, stop at 1.3250.
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