Today’s highlights:
– AUDUSD: Sharp ‘morning star’ reversal pattern warns of a base. The market needs to break out above trendline resistance at 1.0273. Above here would target 1.0376.
– NZDUSD: Sharp reversal yesterday warns of a short-term base, however, this is only complete above .8326. Should this unfold, the risk is then higher to .8418, then .8491.
– EURUSD: Quiet inside day yesterday. Still scope for a test of the 1.2903-1.2876 support zone, but we expect the market to rebound from here for back to 1.3163 initially.
Today’s trades/positions:
– EURUSD: Booked profit and reversed long at 1.3040, add at 1.2910, target 1.3275, stop at 1.2844.
– 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 at 1.4952.
– USDCHF: Reversed long through .9391, add at .9325, target .9750, stop at .9215.
– AUDUSD: Unwanted short from 1.0182, stop/reverse now 1.0255, target/reverse now 1.0182 (for 1.0355).
– NZDUSD: Short at .8300/20, stop/reverse now .8300, target/reverse at .8275.
– USDCAD: Sell at 1.0270 target/reverse at 1.0152, stop at 1.0330.
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