Today’s highlights:
– USDJPY: Failing within the 95.00-94.13 key resistance zone, after the market finds a cap at 94.45. The focus shifts lower to 91.98, and then 90.33.
– AUDUSD: Market threatening a base after rallying sharply higher from support found at 1.0226. Above 1.0383 trendline resistance would allow for risk up to 1.459/79 initially.
– NZDUSD: Aggressive break above prior resistance at .8390 completes a base, with risk now higher to the recent high of .8494, and then extension risk to .8530.
– GBPUSD: Head-fake below long-term upward trendline, as market generates bullish ‘doji’ reversal pattern. We remain bullish whilst above 1.5572 support, to target 1.5881 initially and then 1.6041.
Today’s trades/positions:
– EURUSD: Long at 1.3400. Stop/reverse now at 1.3362, target/reverse now at 1.3510.
– USDJPY: Short from 93.90, stop at 95.10, target now 88.10.
– GBPUSD: Stopped out at 1.5628. Buy at 1.5680, stop at 1.5568, target 1.6040.
– USDCHF: Buy at .9150 for .9380, stop at .9050.
– AUDUSD: Stopped out at 1.0356. Buy at 1.0325, add at 1.0295, targeting 1.0455, stop at 1.0224.
– NZDUSD: Long through .8390 for .8500, stop at .8300.
– USDCAD: Long at .9975, targeting 1.0135, stop/reverse 1.0015.
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Credit Suisse