Today’s highlights:
– EUR/GBP: Advance continues higher for key neckline resistance at .8166. A break through here is eventually expected allowing for an advance higher to .8221 and then .8263.
– EUR/JPY: Probing the 107.74 78.6% Fibonacci retracement hurdle but this is capping for now. Corrective risk lower back towards 105.28/50, which should hold.
– EUR/SEK: Break through topping trendline resistance exposes the 8.6829 high, but we look for upside to remain capped by the 8.7178 high.
– EUR/NOK: Struggling to overcome the 7.3808/58 resistance zone, as price trades within a tight consolidation channel. We expect a reversal lower back through 7.3175 to 7.2870.
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: Flat. Scratched short at 8.6600.
– EUR/NOK: Sell at 7.3700, targeting 7.3004, stop at 7.3970.
– NOK/SEK: 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 1.2685, stop/reverse now 1.2705 (for 1.2870).
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