Today’s highlights:
– EURUSD: Acceleration higher brings market up towards the long term downward trendline spanning lower from 1.4944 – at 1.3074. Failure here see risk back to 1.2868 initially.
– GBPUSD: Aggressive rally higher sees the removal of 1.6021/44 target resistance. This now exposes the medium term downward trendline located at 1.6096.
– USDCHF: Aggressive sell off results in the market extending lower to the 78.6% Fibonacci retracement support level of .9276/7. The recent prod below here exposes .9212.
Today’s trades/positions:
– EURUSD: Sell at 1.2985, stop at 1.3025, targeting 1.2805.
– USDJPY: Buy at 81.25, targeting 84.10, stop at 80.00.
– GBPUSD: Target met at 1.5999. Sell at 1.6085, targeting 1.5941, stop at 1.6130.
– USDCHF: Buy at .9280, targeting .9448, stop at .9210.
– AUDUSD: Stopped out at 1.0465. Buy at 1.0380 targeting 1.0582, stop/reverse through 1.0335.
– NZDUSD: Sell at .8288 targeting .8120, stop at .8315.
– USDCAD: Short from .9992, targeting .9905, stop/reverse now .9995 (1.0080).
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Credit Suisse