Today’s highlights:
– EUR/GBP: Consolidating after recent neckline break and push above the 200-day average at .8074. We see risk higher to long-term resistance at .8166. Above here signals a larger base, with risk up to
.8221/63.
– EUR/JPY: Correcting back towards near-term support at 105.30. Risk of a prod below here towards 104.10. However, broader trend remains higher to 107.74, then 111.45.
– EUR/SEK: Prod below 8.5838 exposes the 8.5099/22 support zone. We reiterate our medium-term bearish stance and see risk through 8.5099/22 to 8.4164/8.3815.
– EUR/NOK: Rebounding back up towards 7.3547. Whilst below the 7.3808/58 resistance zone, however, the risks are still skewed lower to 7.2870 and then 7.2592/04.
Today’s trades/positions:
– EUR/GBP: Long from .8033. Target .8125, stop now .8072. Buy again at .8032, targeting .8158, stop at .8002.
– EUR/JPY: Buy 50% at 105.32, add 50% at 104.12, targeting 107.74, stop at 103.02.
– EUR/SEK: Short at 8.6350, target now 8.4400, stop now 8.6360.
– EUR/NOK: Scratched long at 7.3500. Sell again at 7.3725, targeting 7.2650, stop at 7.3870.
– NOK/SEK: Scratched long and reversed short through 1.1715, add at 1.1745 for 1.642, stop now at 1.1760.
– AUD/NZD: Stopped out at 1.2680. Sell at 1.2700, add at 1.2730, targeting 1.2635, stop at 1.2760.
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