Today’s highlights:
– EURUSD: Correcting lower from flagged trendline resistance at 1.3140. Our bias remains bullish and we expect this correction to gain traction and rebound higher from 1.3005/1.2993 support zone.
– USDJPY: Breakout through 79.23 resistance reinforces our bullish stance and the recent break. We expect further upside to 79.83, and then 80.56/63.
– GBPUSD: Downward reversal lower from 1.6182/5 resistance zone brings the market back towards our target support level of 1.6019. Below here would expose 1.5975/66/59 again.
– USDCAD: Very erratic price action with the rebound higher from .9763. Only a breakout above .9887/0 resistance allows for an
extension higher to .9933/50.
Today’s trades/positions:
– EURUSD: Took profit at 1.3075. Buy again at 1.3010, for 1.3260, stop at 1.2890.
– USDJPY: Long again from 78.38, target 79.80, stop now 79.10.
– GBPUSD: Stopped out in the money at 1.6140. Sell at 1.6065 targeting 1.5995, stop at 1.6100.
– USDCHF: Short from .9400, target now .9215, stop now at .9250.
– AUDUSD: Buy at 1.0330 targeting 1.0440, stop/reverse at 1.0272.
– NZDUSD: Long from .8190, targeting 8299, stop now at .8136.
– USDCAD: Flat. Stopped out at .9845. Buy break through .9880, targeting .9930, stop at .9850.
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Credit Suisse