Today’s highlights:
* EURUSD: Market holds the 38.2% retracement support at 1.2326. We expect the market to continue higher through 1.2444 to 1.2598 78.6% retracement resistance.
* GBPUSD: Advance persists back up towards range resistance at 1.5768/85. An upside break above here exposes 1.5907 – the 61.8% Fibonacci retracement hurdle.
* AUDUSD: Support at 1.0530 holds firm. We remain positive and envisage the current upward trend continuing higher to 1.0671 and then towards the 1.0857 high.
* USDCAD: Target 78.6% Fibonacci retracement at .9938 has been breached. We expect a brief rebound from here back towards .9990 interim resistance.
Today’s trades/positions:
* EURUSD: Holding a long, stop/reverse 1.2110. Take profit at 1.2590.
* USDJPY: Short from the move higher, stop above 78.90. Target 77.80.
* GBPUSD: Holding a short at 1.5610/50, stop/reverse through 1.5700. Target/reverse to a long at 1.5540.
* USDCHF: Long at .9700. Add at .9585, with stop placed at .9565. Target .9900.
* AUDUSD: Buy at 1.0475 targeting 1.0660, stop/reverse at 1.0432.
* NZDUSD: Long at .8155, targeting .8246, stop at .8110. If stopped out buy again at .8068, targeting .8248, stop at .8005.
* USDCAD: Stopped out at .9929. Buy again at .9938 targeting 1.0005, stop at .9890.
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