Today’s highlights:
– EURGBP: Resistance at .8685 continues to cap the market, with the focus remaining on support at .8571. A break below here is expected, with risk down to .8442/11.
– EURNOK: Reversal lower sees a test of the 7.4351 range/neckline support. Below here completes a double top, with risk then lower to 7.4014/7.3760, which should then hold.
– EURAUD: Failure at 1.2867 trendline resistance put the focus back to range support at 1.2677/5. Below here would allow for a deeper setback to 1.2586/1.2600, which should hold.
– EURNZD: Market mid-range after yesterday failure at 1.5885. The spotlight is back on 1.5595. However whilst above 1.5506/00 the broader upward trend remains intact.
Today’s trades/positions:
– EURGBP: Short from .8660 targeting .8450, stop at .8770.
– EURJPY: Short from 122.00 targeting 117.00, stop now at 122.00. Resell at 124.00.
– EURSEK: Sell at 8.4180 targeting 8.3150, stop at 8.4650.
– EURNOK: Long from 7.4550 targeting 7.5500, stop now at 7.4350. Rebuy again at 7.4065, for 7.5500, stop at 7.3600.
– EURAUD: Long from 1.2730 targeting 1.3100, stop at 1.2670. Re-buy at 1.2610 if stopped out.
– EURNZD: Long from 1.5520 targeting 1.6000, stop at 1.5595.
– EURCAD: Long from 1.3370 targeting 1.3690, with a stop/reverse through 1.3320.
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