Today’s highlights:
– EUR/GBP: Removal of .8009 support hints at a top, and allows the market to revert lower, back towards the .7961/0 support zone. Below here is needed for a greater top.
– EUR/JPY: Prod above the 61.8% retracement of 104.83 keeps the broader focus higher, and we expect long-term risk to remain higher for an eventual move to 107.74.
– EUR/SEK: Bullish outside day points to a test of the 200 DMA at 8.6943, however, we remain bearish and look for 8.7178 to cap.
– EUR/NOK: Bearish outside reversal day from 7.3808/58 resistance suggests the rebound is now over – ahead of our target of 7.4092. We expect a return to 7.2870.
– NOKSEK: Medium-term upward trend reinforced after a fresh higher high is printed at 1.1818. The risk is now higher to the 1.1879 78.6% retracement once again.
Today’s trades/positions:
– EUR/GBP: Long from .8033. Added at .8015. Stop/reverse through .8000 (for .7916), target now at .8070.
– EUR/JPY: Buy at 102.30, targeting 107.50, stop at 99.95.
– EUR/SEK: Scratched long and reversed short at 8.6350, add at 8.6950, for 8.5150, stop at 8.7178.
– EUR/NOK: Short from 7.3500, targeting 7.2710, stop at 7.3870.
– NOK/SEK: Long from 1.1718, targeting 1.1870, stop at 1.1633.
– AUD/NZD: Long from 1.2750, stop at 1.2680, for 1.2920.
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