Today’s highlights:
– EURUSD: Market back probing the 1.3404 resistance hurdle. We expect trend continuation higher through here for 1.3487/93 chart/50% retracement resistance.
– USDJPY: Market reaches our target of 90.00, and is now threatening the key 90.84 78.6% Fibonacci retracement hurdle. We are turning short-term neutral at these levels.
– USDCHF: Approaching the key 38.2% retracement/200-day average at .9419/33. Some consolidation plausible but broader risk still higher for .9514, then .9630.
Today’s trades/positions:
– EURUSD: Long from 1.3260, for 1.3480, stop now scratch at 1.3260.
– USDJPY: Long from 88.65, target now 90.20 stop at 90.05.
– GBPUSD: Long at 1.6025 targeting 1.6175, stop at 1.5940. Rebuy at 1.5909 if stopped out.
– USDCHF: Long from .9250 target now .9400 stop now at .9340. Buy again at .9300.
– AUDUSD: Short from 1.0570 targeting 1.0462, stop now 1.0560.
– NZDUSD: Short through .8410, target now .8302. Stop now at .8383.
– USDCAD: Sell again at .9905 targeting .9735, stop at .9930. Or sell through .9845, targeting .9735, stop at .9900.
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Credit Suisse