Today’s highlights:
– USDCHF has formed a bullish “outside day” to target critical chart/38.2% retracement hurdles at .9384/91. Above here would see a base.
– EURUSD spotlight stays on key support from the low for the year at 1.2998.
– NZDUSD has been capped at “neckline” resistance at .8325, keeping the risks lower to .8155.
– AUDUSD has been capped at chart and trendline resistance at 1.0297, keeping the bias lower to 1.0149.
– USDCAD has broken above 1.0304, which allows for an extension of strength to 1.0363.
Today’s trades/positions:
– EURUSD: Long 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. Target 1.4875.
– USDCHF: Short at .9340, stop/reverse above .9391, for .9235.
– AUDUSD: Reversed short, stop 1.0343 for 1.0150.
– NZDUSD: Short at .8300/20, stop above .8355 for .8155. Reverse back to a long here, stop/reverse below .8123.
– USDCAD: Covered an existing long. Buy again at 1.0240/20, stop below 1.0190, for 1.0363.
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Credit Suisse