Today’s highlights:
– EURUSD: Defending the 38.2% Fibonacci retracement level of 1.3310 so far. We look to buy into this weakness between 1.3310 and 1.3180 trendline support, for a rally to 1.3835.
– GBPUSD: Solid recovery off the 1.5631/22 long-term trendline support zone suggests an eventual breakout above 1.5881 resistance to allow for a return to 1.6379/1.6440.
– USDCAD: Strong recovery set to continue higher for through 1.0102 resistance to challenge 1.0136 and then eventually our target 1.0273 retracement hurdle.
– USDJPY: Reversal lower from 94.06/13 resistance puts the spotlight on through 91.98 to 90.33 interim chart support.
Today’s trades/positions:
– EURUSD: Short at 1.3525, targeting 1.3312, stop/reverse now 1.3400.
– USDJPY: Short from 93.90, stop at 95.10, target now 88.10.
– GBPUSD: Average long from 1.5791, targeting 1.6350, stop tightened to 1.5628.
– USDCHF: Buy at .9150 for .9380, stop at .9050.
– AUDUSD: Short from 1.0456, target now 1.0265, stop now 1.0339.
– NZDUSD: Short through .8447, targeting .8230, stop tightened to .8375.
– USDCAD: Long at .9975, targeting 1.0135, stop now .9928.
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