Today’s highlights:
· EUR/USD: Market probing tentative trendline resistance placed at 1.4537. While above immediate support at 1.4447, the risk remains through here to 1.4572 and then 1.4698.
· USD/CHF: Short-term trendline break results in bullish outside day. Risk of a counter-trend rally back through .8512 contracting channel resistance, to 55-day MA at .8612..
· USD/JPY: Near-term upward price channel continues to dictate, reinforced with yesterday’s recovery off support found at 80.25. Risk today, back up to 81.28 chart resistance.
· USD/CAD: Sell-off continues to accelerate lower, and has broken below its 61.8% Fibonacci retracement this morning. While below .9701/07, the risk remains lower to .9546/11.
Today’s trades:
· EUR/USD: Target met/now short at 1.4523 for 1.4335, stop at 1.4585.
· USD/JPY: Long at 79.80 for 81.75; stop/reverse now 80.13.
· GBP/USD: Flat, re-enter short at 1.6135 for 1.5886; exit 1.6276.
· USD/CHF: Stopped out at .8445. Buy at .8402, target .8605, stop .8305.
· AUD/USD: Long through 1.0605 for 1.0791; reverse to short here, stop tightened to 1.0660.
· NZD/USD: Retry long at .8200, stop at .8190, for .8420. If stopped out, retry long again at .8120, stop .8005, for .8420.
· USD/CAD: Short at .9805 for .9526; exit/reverse .9920.
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http://www.easyforexnews.net/wp-content/uploads/2011/07/document-895871271.pdf
Credit Suisse
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