Today’s highlights:
EUR/USD: Bearish “outside” Friday through critical 1.4156/48 price/retracement support to probe 1.4038/220 support. Risk of surrender here to target 1.3655
GBP/USD: Collapse below 55-day MA and minor price support aims at key area now 1.6092/90. We look for this to hold, but overshoot risk is to better support, the 200-DMA, 1.5921
USD/CHF: Basing effort reinforced by bullish “engulfing” Friday. Threat above key short-term hurdles, .9014 and 55-DMA, now .9025, for a firmer recovery into month-end
Today’s trades:
EUR/USD: Back short through 1.4119 for 1.4026; reverse back to long here (stop/reverse through 1.3990). Exit short above 1.4136
USD/JPY: Long at 81.25 for 82.80; stop 80.15
GBP/USD: Short from 1.6315 for 1.6106; reverse to long here or to flat above 1.6306 (reverse back to short below 1.6090 for 1.5940)
USD/CHF: Long entered at .8820 for .9010; reverse to short here, with stop/reverse to long above .9031. Exit long below .8770
AUD/USD: Short at 1.0695 for 1.0425; reverse to long here or to flat above 1.0795 (re-enter short below 1.0385)
NZD/USD: Unwanted long now at .7920 for .7980; exit/reverse here or below .7810
USD/CAD: Short at .9700 for .9485. Exit above .9805
Credit Suisse
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