Today’s highlights:
– EUR/GBP: Oscillating around the 38.2% retracement. Some further downside risk is expected to the .7980 channel support level. But we look for this to hold.
– EUR/JPY: Topping structure secured with break below 102.83. We see risk lower to 101.60 trendline support, where we expect renewed buying interest.
– EUR/SEK: Resistance found at the 200-day average. The reversal lower from 8.7178 signals risk lower to 8.6050.
– EUR/NOK: Failure ahead of the 200-day average turns the focus lower again for 7.445 chart support. Below here would see risk lower again to 7.4243.
– NOK/SEK: Sell-off continues lower for 1.1544 38.2% retracement support. Below here would allow for risk to trendline support located at 1.1498.
Today’s trades/positions:
– EUR/GBP: Stopped out at .8015. Buy again at .7995, targeting .8100, stop at .7970.
– EUR/JPY: Reversed short through 103.00, for 101.60, stop at 103.80.
– EUR/SEK: Unwanted long from 8.6401 targeting 8.7700, stop/reverse now at 8.6300 (for 8.5500).
– EUR/NOK: Buy again at 7.4256 targeting 7.4950, stop at 7.3950.
– NOK/SEK: Short from 1.1720 target now at 1.1545, stop now at 1.1695.
– AUD/NZD: Short from 1.2660, targeting 1.2505, stop at 1.2701.
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Credit Suisse