Today’s highlights:
– EURGBP: Resistance found at .8589, after prodding above the 61.8% Fibonacci retracement. Scope for a correction back to trend support at .8462.
– EUR/JPY: 123.35 and 122.92 resistance hurdles continue to cap for now. We see a growing risk of correction yet again back towards key trend support zone located at 117.05/116.47.
– EUR/SEK: Finally a top is generated with the removal of 8.6627/8.6528 support zone. This move now allows the market to revert back to 8.6041/83. Below sees 8.5057.
– EUR/AUD: Correction bringing the market back to throwback support at 1.2776/99. We look for renewed buying interest to support the market here, with bias to 1.3296.
Today’s trades/positions:
– EUR/GBP: Sell through .8550 targeting .8470 stop at .8600.
– EUR/JPY: Short from 121.85 targeting 117.20, stop at 123.45.
– EUR/SEK: Short from 8.6650 target 8.5100, stop now 8.7028
– EUR/NOK: Long at 7.4335, add at 7.3950. Target 7.4950, stop/reverse at 7.3866.
– EUR/AUD: Buy at 1.2835 targeting 1.3280, stop at 1.2700.
– EUR/NZD: Target met at 1.6200. Buy again at 1.5960 targeting 1.6525 stop at 1.5748.
– EUR/CAD: Buy at 1.3385 targeting 1.3780, stop at 1.3250.
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