Today’s highlights:
– EURUSD: Decline continues with the market probing flagged support at 1.3310. We see scope for a break below here to challenge 1.3197 medium-term trendline support.
– USDJPY: Approaching key near-term chart/trend support placed at 91.98. Below here signals a top, with continued corrective risk lower to 88.06.
– NZDUSD: Aggressive rally continues steadily higher, with the market prodding above .8530 retracement resistance. This exposes .8561 channel resistance.
– AUDUSD: Tentatively breaking above trendline resistance previously at 1.0373. The risk is still skewed higher towards 1.0459/58.
Today’s trades/positions:
– EURUSD: Short from 1.3510, targeting now 1.3210, stop at 1.3582.
– USDJPY: Short from 93.90, stop at 95.10, target now 88.10.
– GBPUSD: Sell at 1.5625 targeting 1.5423, stop/reverse at 1.5700.
– USDCHF: Long from .9150 for .9380, stop at .9050.
– AUDUSD: Long from 1.0325, targeting 1.0455, stop now at 1.0325.
– NZDUSD: Flat. Target met at .8500.
– USDCAD: Short at 1.0015, target/reverse at .9948, stop/reverse at 1.0046.
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