Today’s highlights:
– EUR/GBP: Range support at .7967/59 has held and our bias is for the recovery to extend to neckline resistance at .8045, with scope to the .8096 high.
– EUR/JPY: Buying has been unearthed on the reversion to support at 99.21 and we look for the uptrend to extend through 100.72 to 101.65/79, which we look to cap.
– EUR/SEK: While the 38.2% retracement barrier at 8.5553 caps the risks are still seen for a test of basing support at 8.3822.
– EUR/NOK: The break above 7.4100 signals a better base for 7.4568, with scope to extend to 7.4976/7.5058.
– NOK/SEK: The prod below 1.1445 keeps the focus lower on more important support at 1.1399/92.
– AUD/NZD: The spotlight remains on the 1.2736 61.8% retracement support. We look for a break lower to 1.2674 next.
Today’s trades/positions:
– EUR/GBP: Reversed long at .7969, stop below .7925 for .8096.
– EUR/JPY: Covered an existing long at 100.00. Sell at 101.40, stop at 101.90 for 99.60.
– EUR/SEK: Covered a long at 8.5200. Sell at 8.5553, stop at 8.6075 for 8.3150.
– EUR/NOK: Short at 7.4316/29, stop at 7.4860 for 7.2200.
– NOK/SEK: Flat, sell at 1.1567, stop at 1.1597 for 1.1355.
– AUD/NZD: Flat, sell at 1.2920, stop at 1.2945 for 1.2740.
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