Today’s highlights:
– EURUSD has completed a large bearish “reversal day” to leave the market set for a test of key support at 1.2998.
– USDJPY has also completed a bearish “outside” day at the 2010 peak and a top for 90.60/33 then 89.33, with firmer levels seen at 88.06/03.
– GBPUSD holds daily DeMark exhaustion signals, warning of a nearterm bounce.
– NZDUSD focus turns back to trendline support at .8319. We look for buying here.
– AUDUSD’s reversal lower from 1.0331/42 turns the focus back on the range lows at 1.0226/21. Beneath here is needed for a top for 1.0149.
Today’s trades/positions:
– EURUSD: Long again at 1.3070, stop/reverse below 1.2998 for 1.3300.
– USDJPY: Short from 93.90, stop at 95.10, target now 88.10.
– GBPUSD: Short at 1.5160/1.5200, stop above 1.5260. Take profit at 1.4875.
– USDCHF: Long from .9150 covered at .9340. Sell at .9340, stop/reverse above .9391 for .9235.
– AUDUSD: Reversed long, stop/reverse at 1.0220 for 1.0450.
– NZDUSD: Reversed back to a long at .8350, stop at .8279 for 8490.
– USDCAD: Covered an existing long at 1.0046. Buy again at 1.0102, stop below 1.0043 for 1.0273.
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Credit Suisse