Today’s highlights:
– EUR/GBP: Prodding below .8059 interim support. We remain bullish for now, until a sustained breakdown is seen. We still expect a retest of key neckline resistance at .8166.
– EUR/JPY: Correction commencing for back towards 105.28/67 throwback support. We remain bullish for 111.45 and look for this support zone to hold.
– EUR/SEK: Reverting lower within the current range back towards 8.5611/8.5593 support. We expect a break below here to target 8.5099/22. Below the latter completes a broad top.
– EUR/NOK: Removal of 7.3314 support and completion of bearish flag pattern sees risk lower to 7.2870 initially and then eventually through here to 7.2592/7.2504.
– NOKSEK: Resistance found at 1.1792 and the result has been a reversal lower. Despite this we expect the upward trend to persist higher to 1.1879.
Today’s trades/positions:
– EUR/GBP: Long from .8095 targeting .8215, stop now .8049.
– EUR/JPY: Sell through 107.48 target/reverse 105.80 stop at 108.10.
– EUR/SEK: Sell 8.6100 targeting 8.4510, stop at 8.6835.
– EUR/NOK: Short from 7.3700 targeting 7.3004 stop now 7.3600.
– NOK/SEK: Long at 1.1760, added at 1.1700, for 1.1872, stop at 1.1672.
– AUD/NZD: Sell at 1.2650 target 1.2425 stop 1.2714.
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Credit Suisse