Today’s highlights:
– EUR/GBP: Lacklustre prod above .8114 prior resistance. The focus remains broadly higher for a test of the .8166 key neckline resistance hurdle. Above here sees .8221/63.
– EUR/JPY: Probing the 107.74 78.6% Fibonacci retracement hurdle. We expect the market to struggle here and revert lower back towards 105.28 again.
– EUR/SEK: Reversal off support found at 8.5903 puts the focus back on the key 8.6663 topping trendline and then more significantly 8.6829-8.7178.
– EUR/NOK: Probing the 7.3808 resistance once again. This neutralises the bearish threat and exposes the 61.8% retracement hurdle of 7.4092.
Today’s trades/positions:
– EUR/GBP: Long from .8095, targeting .8215, stop now .8049.
– 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: Flat; stopped out 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: Short from 1.2700, added at 1.2730, target now 1.2652, stop/reverse at 1.2750 (for 1.2870).
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