Today’s highlights:
– EUR/GBP: Pausing for breath after the recent breakout. We remain bullish target .8157 and then .8263, however we do not rule out a brief correction lower to .8090/99.
– EUR/JPY: Probing the key 103.89 hurdle. We expect the market to ultimately breakout above here and target 104.30, then 105.43 respectively.
– EUR/SEK: Reverting back lower to 8.5810 flagged support. We expect weakness through here to 8.5400 medium term trendline support.
– EUR/NOK: Aggressive break lower through 7.3642 reinforces the downward trend and allows for a re-test of the target 7.3522/7.3458 support zone.
– NOK/SEK: Approaching the key 1.1621/1.1599 initial support zone as the decline lower form 1.1754 gathers momentum. We continue to target 1.1544/1.1498.
Today’s trades/positions:
– EUR/GBP: Long from .8030, targeting .8250, stop now at .8020.
– EUR/JPY: Target met at 103.60. Buy again at 102.83 targeting 104.30, stop at 101.03.
– EUR/SEK: Short from 8.6400, targeting 8.5100, stop at 8.7000.
– EUR/NOK: Reversed short through 7.3850, for 7.3500, stop at 7.4000.
– NOK/SEK: Short from 1.1720 target now at 1.1545, stop at 1.1755.
– AUD/NZD: Target met at 1.2640. Sell at 1.2660, targeting 1.2505, stop at 1.2701.
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