Today’s highlights:
– EUR/GBP: Gaining traction at .7984/78 support, and after the removal of .8014 we see scope for risk towards .8078 once again. Above creates a base for .8166 again.
– EUR/JPY: Trendline continues to hold firm after support at 102.17/9 remains intact. The risks are growing for a breakout above 104.02 and 104.62 to challenge 105.43.
– EUR/SEK: Still trending lower, and whilst capped by 8.6114 resistance, the focus is lower to our target retracement of 8.5099.
– EUR/NOK: Market continues to extend lower towards the 78.6% Fibonacci retracement support level. We expect renewed buying
interest at this support, with risk back to 7.3677.
– NOKSEK: In consolidation mode for now as resistance at 1.1740/54 remains in focus. We still expect the market to remain capped here, with scope lower to 1.1575.
Today’s trades/positions:
– EUR/GBP: Took profit at 8011. Buy at .8021 target .8125, stop at .7984.
– EUR/JPY: Scratched short at 103.40. Buy at 103.12 targeting 105.20, stop at 102.17.
– EUR/SEK: Short through 8.6300, target extended to 8.5170, stop/reverse now 8.5850 (for 8.6450).
– EUR/NOK: Buy at 7.3150 targeting 7.3650, stop at 7.2990.
– NOK/SEK: Target met and reversed short from 1.1684, target 1.1580, stop at 1.1761.
– AUD/NZD: Short from 1.2660, targeting 1.2505, stop at 1.2701.
Click here to read the full report: FX Daily
Credit Suisse