Today’s highlights:
* EURUSD: Breakout above 1.2444/79 key resistance results in an acceleration higher towards the more critical cluster of Fibonacci
hurdles at 1.2593/8, which should cap.
* USDJPY: Dramatic reversal lower brings price back to the key 78.15 chart support level. The market needs to hold above here to keep basing efforts alive. Below exposes 77.66.
* AUDUSD: Break above 1.0533/43 resistance suggests a base for now, with risk back up to retest the 1.0615 high.
Today’s trades/positions:
* EURUSD: Short from 1.2479, add at 1.2575, stop at 1.2630, target 1.2101.
* USDJPY: Buy at 78.32 target 79.20, stop/reverse through 78.13 (for 77.15).
* GBPUSD: Target met at 1.5900. Sell at 1.5895 target 1.5770, stop 1.5965.
* USDCHF: Stopped out and reversed short through .9646, target set at .9470, stop/reverse now .9661.
* AUDUSD: Stopped out in the money at 1.0525. Buy at 1.0466 targeting 1.0580, stop at 1.0410.
* NZDUSD: Reversed long through .8148. Add at .8115, target .8230, stop at .8074.
* USDCAD: Buy at .9885 target extended to 1.0050, stop at .9820.
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Credit Suisse