Today’s highlights:
EUR/USD: Surge through 1.4283/98 barriers completes a short-term base for a better recovery tone into month-end. Prod at 1.4420, but above the topping line, 1.4460, needed for a more bullish tone into August
GBP/USD: Surge through the “neckline” and down trend/topping barriers leaves risk for constructive consolidation into month-end. Next resistance at 1.6382; 1.6541/49 is key
AUD/USD: Bullish “outside” pattern through range top at 1.0804 targets 1.0881/90 retrace/chart area. Month-end threat now for a retest of the 1.1014 peak and key 1.1035
NZD/USD: Another day and another new multi-decade high keeps August risk to our Q3 target at .9000
Today’s trades:
EUR/USD: Flat; fade an initial challenge to 1.4460 for 1.4261. Reverse to long here or just to flat above 1.4581
USD/JPY: Long entered at 78.56 for 79.56; reverse 78.19
GBP/USD: Reversed long through 1.6206 for 1.6378; reverse to short here (stop/reverse 1.6445); exit below 1.6384
USD/CHF: Retry short at .8234 for .8006; exit .8282
AUD/USD: Short at 1.0794 for 1.0566; exit 1.0894
NZD/USD: Retry long at .8530 for .8900; exit .8412
USD/CAD: Flat; retry short at .9513 for .9276; exit .9651
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/07/document-900285241.pdf
Credit Suisse
FIXED INCOME RESEARCH & ANALYTICS