Today’s highlights:
– EURUSD: Resistance found at 1.3711. We envisage a correction back to trendline support located now at 1.3490.
– USDJPY: Strong weekly advance keeps the focus higher. Although a correction is plausible over the short term, whilst above 90.33 support the focus is on 94.13/95.00.
– GBPUSD: Sharp reversal lower last Friday sees the market revert back to challenge key long-term upward trendline and chart support at 1.5674.
– AUDUSD: Erratic price activity, however, whilst capped by 1.0479/85 resistance, the focus remains lower for 1.0149 eventually.
Today’s trades/positions:
– EURUSD: Sell 50% at 1.3655 and 50% at 1.3680, targeting 1.3400, stop at 1.3735.
– USDJPY: Buy at 90.85, targeting 94.00, stop/reverse through 90.33.
– GBPUSD: Long at 1.5843, added at 1.5740, targeting 1.6350, stop at 1.5650.
– USDCHF: Buy at .9010, targeting .9350, stop at .8850.
– AUDUSD: Short from 1.0456, targeting 1.0180, stop now 1.0500.
– NZDUSD: Stopped out at .8485. Sell through .8447, targeting .8285, stop at .8505.
– USDCAD: Long at .9975, targeting 1.0135, stop at .9900.
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Credit Suisse