Today’s highlights:
– EURUSD: Reverting to the 1.2882/70 support zone. We expect the market to break below here as well at 1.2803, to challenge the 1.2740 – 38.2% Fibonacci retracement.
– GBPUSD: Challenging short-term upward trendline support at 1.6084, after yesterday’s reversal lower from 1.6176.
– NZDUSD: Expected breakout occurs, with price pushing through .8244/67. We expect an advance up to .8341/60. We expect this to cap.
– USDCAD: Failure once again at 1.0021. Topping threats unfold and we expect a breakdown through .9958 with potential lower to .9886.
Today’s trades/positions:
– EURUSD: Reversed short from 1.2950, target now 1.2770, stop/reverse at 1.3028.
– USDJPY: Long from 79.95 target 80.50, stop at 79.67.
– GBPUSD: Sell through 1.6084 targeting 1.5887, stop at 1.6183.
– USDCHF: Long from .9315 targeting .9420, stop at .9265.
– AUDUSD: Short through 1.0262, added at 1.0336, target now at 1.0150, stop now 1.0450. If stopped out, sell through 1.0353, targeting 1.0150.
– NZDUSD: Long from .8170 target now .8403, stop/reverse now at .8211 (for .8090).
– USDCAD: Target met and reversed to unwanted long at .9982. Stop and reversed short through .9958, targeting/reverse placed at .9989 (for .9890).
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