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Today’s highlights:
■ EURUSD has initially been capped below 61.8% retracement resistance at 1.1259, but we stay bullish for 1.1387, then 1.1459/95.
■ EURGBP maintains a large bullish base above .7494.
■ USDJPY spotlight remains on critical support at 116.15/115.97.
■ AUDUSD below .7002/.6986 can set a top and again expose the .6828/27 early year lows.
■ GBPUSD has found a cap at the 50% retracement barrier and “neckline” resistance at 1.4660/4701.
■ USDCHF reinforces a top below former trendline support now at .9977.
■ USDCAD has found fresh buying interest at the 38.2% retracement of the March 2015/January 2016 rally at 1.3631.
Today’s trades/positions:
■ EURUSD: Long at 1.1155, stop below 1.1054 for 1.1450.
■ USDJPY: Short at 117.30, stop above 117.80 for 116.05.
■ GBPUSD: Flat. Sell again at 1.4590, stop above 1.4669 for 1.4150.
■ USDCHF: Flat. Sell at 1.0025, stop above 1.0078 for .9805.
■ AUDUSD: Flat. Sell at .7150, stop above .7220 for .6830. Also sell on a direct break below .6986.
■ NZDUSD: Flat. Sell at .6680, stop above .6753 for .6365.
■ USDCAD: Assume flat, buy at 1.3800, stop below 1.3710 for 1.4100.
■ EURJPY: Long at 130.05, stop below 129.50 for 131.90.
■ EURGBP: Long at .7585, stop below .7520 for .7750.