Today’s highlights:
– EURUSD: Prod above 1.3007 long-term downward trendline resistance, however, a sustained advance through here is needed to expose 1.3140/72 range highs.
– USDJPY: Market begins to gain traction ahead of 81.64 support at 81.85. Risk still of a deeper correction back towards 81.13/80.92, however, we remain bullish for 84.19.
– NZDUSD: Inverted head and shoulders reversal pattern sees risk higher to the .8283/94 trendline/78.6% retracement resistance zone. We expect this to then cap.
– AUDUSD: Break above 1.0482 hints at continuation higher to challenge the 1.0521/3 resistance zone. We highlight that above here then sees a re-test of the 1.0625 high.
Today’s trades/positions:
– EURUSD: Short from 1.2985, stop at 1.3025, targeting 1.2805.
– USDJPY: Buy at 81.25, targeting 84.10, stop at 80.00.
– GBPUSD: Sell at 1.6085, targeting 1.5941, stop at 1.6130.
– USDCHF: Long from .9280, targeting .9448, stop at .9210.
– AUDUSD: Buy at 1.0435, targeting 1.0610, stop/reverse through 1.0402.
– NZDUSD: Sell at .8288, targeting .8120, stop at .8315.
– USDCAD: Short from .9992, targeting .9905, stop now .9970.
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