Today’s highlights:
EURGBP’s aggressive bearish “outside” reversal at the .8075 38.2% retracement barrier eases immediate basing risks.
GBPUSD risk can remain lower though while capped below Monday’s bear gap at 1.6234/83.
EURUSD stays biased lower to our 1.2787/55 target.
USDCHF has moved to just shy of our .9405 target – the 61.8% retracement of the 2013/2014 downtrend.
USDCAD has retraced lower from the 1.1027/54 barrier. However, the medium-term trend stays bullish for an eventual break for 1.1280.
AUDUSD corrects higher but we stay bearish while capped below the “point of breakdown” at .9238/50.
NZDUSD trend stays bearish for our .8125/20 core target.
USDJPY remains bullish for 107.48, followed by 110.60/111.60.
EURJPY spotlight remains on the September high at 138.31.
Read the full report: FX Daily