Today’s highlights:
– EUR/GBP: Approaching .8114 initial resistance. We expect the upward trend to continue higher through here to challenge neckline resistance at .8166.
– EUR/JPY: Rally off throwback support at 105.28 turns the immediate focus higher again for through 107.16 to test the 78.6% retracement at 107.71.
– EUR/SEK: Failure at topping trendline resistance at 8.6663 turns the immediate focus lower to 8.5593, and then below here to 8.5099/22.
– EUR/NOK: Failure at 7.3704, ahead of the 7.3808/58 resistance zone, keeps the focus lower. We expect the removal of 7.3175, allowing for an extension down to 7.2870.
Today’s trades/positions:
– EUR/GBP: Buy again at .8095, targeting .8215, stop at .8040.
– EUR/JPY: Long 50% at 105.32, add 50% at 104.12, targeting 107.74, stop at 103.02.
– EUR/SEK: Short again from 8.6600, targeting 8.5150, stop now scratch at 8.6600.
– EUR/NOK: Short again at 7.3500, targeting 7.2650, stop at 7.3870.
– NOK/SEK: Stopped out and reversed long at 1.1760, added at 1.1700, for 1.1872, stop at 1.1672.
– AUD/NZD: Sell at 1.2700, added at 1.2730, targeting 1.2640, stop/reverse now through 1.2750 (for 1.2870).
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