Today’s highlights:
– EURUSD: Bearish engulfing reversal sees the focus remain on the key cluster of support at 1.2901/1.2876/1.2851 going into the ECB. We expect a reversal higher from here.
– GBPUSD: Emphatics reversal lower from resistance found at 1.5200, keeps the immediate focus on the previously flagged 61.8% retracement level of 1.4856.
– USDCHF: Probing the .9497 50% retracement resistance. The focus remains higher for a break above here and .9514 to challenge the 61.8% retracement of .9609.
– USDJPY: Advance back up towards 94.78/95.00 key range resistance continues for now as support holds at 92.92
Today’s trades/positions:
– EURUSD: 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 from 1.5140 target 1.4875, stop now at 1.5040.
– USDCHF: Long through .9391, add at .9325, target .9750, stop at .9215.
– AUDUSD: Scratched long at 1.0255. Buy again at 1.0200 target/reverse 1.0350, stop at 1.0125.
– NZDUSD: Long at .8300 target set at .8410, stop at .8245.
– USDCAD: Stopped out of short at 1.0330.
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