Today’s highlights:
– EURUSD: Sharp sell-off yesterday brings the market back to our target 38.2% retracement. Some overshoot below today, but the uptrend remains intact whilst above 1.2880.
– GBPUSD: Reversal lower from 1.6132 resistance results in an eventual trendline break. This now sees risk back to the interim chart support cluster located at 1.5989/62.
– USDCHF: Sharp rally higher sees the market defend its medium-term range lows. We continue to expect a return to retest the 200-day average at .9422.
– NZDUSD: Sharp rally now probing the .8360 high. Again, we highlight that an upside breakout above here targets .8473 immediately.
Today’s trades/positions:
– EURUSD: Target met at 1.2955. Through 1.2974 targeting 1.3195, stop at 1.2880.
– 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, target now .9400, stop now at .9255.
– AUDUSD: Short through 1.0426, target now 1.0305, stop/reverse through 1.0524 (for 1.0610).
– NZDUSD: Reversed long at .8311, targeting .8430, stop at .8230.
– USDCAD: Long from .9926, stop/reverse .9868, targeting 1.0050.
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