Today’s highlights:
– USDJPY: Aggressive acceleration through 81.49 retracement resistance sets up for further gains higher to the 78.6% retracement of 82.68 and then the key neckline of 83.09.
– EURUSD: Failure ahead of 1.2844 38.2% Fibonacci retracement resistance suggests beginning of next downward phase for back through 1.2662 to 1.2502/1.2474.
– AUDUSD: Reversing lower again from resistance found at 1.0425. We remain bearish and look for a trendline break and extension lower to 1.0149 initially.
– USDCHF: Support at .9380 holds firm for now. We look for the next upward phase to begin, with risk through .9514 to .9610/37.
Today’s trades/positions:
– EURUSD: Short from 1.2800, added at 1.2830, target now at 1.2610, stop now scratch at 1.2815.
– USDJPY: Stopped out at 81.65. Buy at 81.10, add at 80.68, targeting 84.10, stop at 80.00.
– GBPUSD: Long from 1.5840, add at 1.5801, stop at 1.5760, targeting 1.5999.
– USDCHF: Long from .9432, targeting .9610, stop now .9359.
– AUDUSD: Short from 1.0315, added at 1.0420, targeting 1.0170, stop at 1.0465.
– NZDUSD: Short from .8110, added at .8155, targeting .8012, stop at .8210. Sell again at .8242 if stopped out.
– USDCAD: Short from .9992, targeting .9905, stop now at 1.0019.
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