Today’s highlights:
– EUR/GBP: Recovery commences off .7923 support with the market threatening to break out above .8010. We remain bullish for .8115 first.
– EUR/JPY: Rebound begins to unfold with the market threatening the 101.06 hurdle. We expect the market to break above here to target the 103.89/66 high once again.
– EUR/SEK: Short-term downward trendline break paves the way for risk up to 8.5514/8.5668 initially. We expect a push above here to retest the 8.6459 high once again.
– EUR/NOK: Reversal higher off 7.3522 support ahead of the 61.8% retracement of 7.3458 sets up for further strength higher to 7.4174. Above here is needed to expose 7.4647.
– NOK/SEK: Erratic trading continues. Rebound higher now approaching the 1.1535 topping trendline resistance. A breakout above here sees risk up to 1.1573/94.
Today’s trades/positions:
– EUR/GBP: Long from .7960, targeting .8100, stop at .7880.
– EUR/JPY: Long at 101.80, added at 100.30, stop at 99.52 for 103.60.
– EUR/SEK: Long through 8.4740, targeting 8.5660, stop at 8.4180.
– EUR/NOK: Long from 7.3700, targeting 7.4150, stop at 7.3450.
– NOK/SEK: Short from 1.1500, targeting 1.1295, stop at 1.1575.
– AUD/NZD: Sell at 1.2485, target 1.2365, stop at 1.2535.
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Credit Suisse