Today’s highlights:
– EURUSD: Failure ahead of the 1.3140/72 resistance zone occurs as expected, with a corrective phase commencing for back to 1.2972/49 support initially.
– USDJPY: Probing the 82.75/84 range highs. A breakout above here sees risk higher to 84.19/10. Failure simply sees further consolidation back to 81.64, before an eventual test of 84.19.
– GBPUSD: Still topping out short term after finding resistance at 1.6132. We expect the market to revert lower back to 1.6055 trendline support and then 1.5989/62.
– NZDUSD: Sharp advance through flagged resistance at .8274 and .8294 leads to a probe above the key hurdle of .8310. The focus is now on the .8360 high.
Today’s trades/positions:
– EURUSD: Short from 1.3093, stop now at 1.3135, target at 1.2955.
– USDJPY: Long from 81.75, add at 81.02, targeting 84.10, stop at 80.60.
– GBPUSD: Short through 1.6085, targeting 1.5885, stop at 1.6185.
– USDCHF: Long from .9280, add at .9235, target .9448, stop at .9210.
– AUDUSD: Short through 1.0426, targeting 1.0201, stop at 1.0525.
– NZDUSD: Short from .8195, added at .8274, target now .8200, stop/reverse through .8311.
– USDCAD: Long from .9926, stop at .9865, targeting 1.0050.
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