Today’s highlights:
EUR/USD: Break above 61.8% retracement barrier at 1.4572 opens the door to 1.4735/54 in early June. Risk for the month is back to the 1.4944 cycle high
GBP/USD: Head fake below 1.6310/08 pivot area with a solid bullish “outside” Friday bounce. Risk for further recovery early this week through the 1.6549 peak to 1.6600
USD/CHF: Lacklustre recovery efforts encourage return line support violation to aim at .8250 next on the way to .8125
AUD/USD: Strong recovery just ahead of the supportive 55-DMA (1.0572) to spotlight 1.0795 next, with risk this week to chart/78.6% retracement targets at 1.0890/91
Today’s trades:
EUR/USD: Flat, exited long from 1.4405 at 1.4570; would re-enter long back to 1.4570 for 1.4730; exit 1.4494
USD/JPY: Flat; would wait to enter long again at 79.80 for 81.75 with stop/reverse below 79.49
GBP/USD: Long from 1.6316 for 1.6585; exit 1.6264
USD/CHF: Flat; sell rebound to .8440 for .8250; exit .8566
AUD/USD: Flat, look to re-enter long at 1.0680 for 1.0885; exit 1.0585
NZD/USD: Long at .8156 for .8390; exit .8048
USD/CAD: Long from .9712 for .9975; exit .9624
Credit Suisse
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