Today’s highlights:
– USDCHF: Intermediate term base completion occurs through .9391. We target the 61.8% and 78.6% retracements at .9609 and .9769.
– AUDUSD: Removal of 1.0149 reinforces bearish risks, and exposes 1.0103/1.0058 initially, and then the 61.8% retracement at .9980.
– NZDUSD: Medium-term channel break and removal of 200 DMA warn of further downside risk to the long-term 38.2% Fibonacci retracement of .8123, and possibly then .8052.
– EURUSD: Break below 1.2998 exposes the key cluster of neckline/50% retracement and 200 DMA average support at 1.2908/1.2876/1.2843.
Today’s trades/positions:
– EURUSD: Reversed short at 1.2998, target/reverse at 1.2912, stop/reverse at 1.3040.
– USDJPY: Short from 93.90, stop at 95.10, target now 91.52.
– GBPUSD: Short at 1.5160/1.5200, stop now 1.5060. Take profit now 1.4952.
– USDCHF: Reversed long through .9391, add at .9325, target .9750, stop at .9215.
– AUDUSD: Target met at 1.0150. Sell again at 1.0182 targeting .9982, stop at 1.0295.
– NZDUSD: Short at .8300/20, stop now .8335, target now .8162.
– USDCAD: Buy again at 1.0240/20, stop below 1.0190, for 1.0363.
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Credit Suisse