Today’s highlights:
– EURUSD: Decisive breakout above 1.3404 exposes the 1.3487/93 resistance zone. Above here allows for the upward trend to continue higher for 1.3835 retracement resistance.
– USDJPY: Prod above 90.84 hints at eventual continuation higher to94.13/95.00, however we still do not rule out some consolidation back towards 88.06/87.80 again.
– AUDUSD: Sharp sell off now threatening our target 1.0400/1.0394 support zone. In the event of a continuation below 1.0394/1.0400, the focus then turns to 1.0345/36.
– USDCHF: Rebound higher from throwback support from the recently broken trendline at .9222 suggests a recovery back to challenge the .9391 high again, and then .9419.
Today’s trades/positions:
– EURUSD: Long through 1.3375, stop/reverse now 1.3440, target at 1.3485. Buy again at 1.3401 for 1.3593, stop at 1.3300.
– USDJPY: Stopped out 91.00. Sell through 90.68 for 89.25, stop 91.30.
– GBPUSD: Sell at 1.5820 targeting 1.5695, stop/reverse through 1.5895.
– USDCHF: Long from .9290 targeting .9610, stop at .9197.
– AUDUSD: Target met at 1.0412. Sell at 1.0460 targeting 1.0370, stop/reverse through 1.0495.
– NZDUSD: Short at .8415 targeting .8235, stop at .8480.
– USDCAD: Buy 50% at 1.000, and 50% at .9976, targeting 1.0262, stop at .9840.
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Credit Suisse