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Today’s highlights:
■ NZDUSD has completed a large “bearish” outside reversal, turning the immediate risk lower for .6565/45.
■ AUDUSD has rallied further, with a clear break above .7490/.7533 needed to reinforce the base for .7739 next.
■ EURUSD above 1.1047/68 is needed to resolve the sideways range higher to establish a better base.
■ EURJPY ideally finds fresh selling on a challenge of trendline and price resistance at 125.48/97.
■ USDJPY is expected to find fresh selling on a test of price and trendline resistance at 114.28/29.
■ USDCAD’s bearish “outside” day keeps the focus lower for price support at 1.3225 next.
■ GBPUSD focus remains on trendline resistance and the 61.8% retracement barrier at 1.4296/351.
■ EURGBP below .7691 is needed to resolve the range lower for .7661.
Today’s trades/positions:
■ EURUSD: Long at 1.0960, stop below 1.0903 for 1.1165.
■ USDJPY: Short at 115.20, stop above 117.54 for 110.10/00.
■ GBPUSD: Flat, sell at 1.4350/51, stop above 1.4419 for 1.3840.
■ USDCHF: Short on the break below .9945, stop above 1.0039 for .9775.
■ AUDUSD: Long at .7400, stop below .7280 for .7730.
■ NZDUSD: Flat. Sell again at .6670, stop above .6720 for .6565/45.
■ USDCAD: Reversed short, stop above 1.3472 for 1.3040.
■ EURJPY: Short at 124.95, stop above 126.00 for 122.10.
■ EURGBP: Short at .7750, stop above .7830 for .7570.
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