Today’s highlights:
– EURUSD: Market breaks through 50% retracement at 1.2876 and then 200 DMA, allowing for the decline to persist lower for 1.2662.
– USDCAD: Sharp rebound brings the market higher within the current range, with risk now through 1.0296 to 1.0343 initially, then to our target of 1.0448
– USDCHF: Recovery efforts continue back towards the .9568 high once again. We expect the market to re-test this high and ultimately break out above here to challenge .9609 initially.
– AUDUSD: Trapped within a tight range between 1.0416 retracement resistance and support initially at 1.0333. The bias is skewed towards a break above here to target 1.0498.
Today’s trades/positions:
– EURUSD: Stopped out at 1.2855. Sell at 1.2890 targeting 1.2700, stop at 1.2980.
– USDJPY: Long from 94.75, add at 93.75, targeting 99.50, stop now at 93.00.
– GBPUSD: Long from 1.4901 targeting 1.5220, stop now 1.5050.
– USDCHF: Long from .9432, for .9750, stop now .9365.
– AUDUSD: Long through 1.0377, add at 1.0300, for 1.0495, stop now 1.0255.
– NZDUSD: Target met and reversed long at .8225, target .8345, stop/reverse through .8200 (for .8128).
– USDCAD: Took profit and reversed long through 1.0255, for 1.0400, stop now at 1.0179.
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