Today’s highlights:
– EURGBP: Rebound higher from support found at .8442 turns the focus higher for .8642 trendline resistance, which is expected to cap the market. We continue to target .8364.
– EURJPY: Market rebounding back up to the 127.71 chart resistance high as support at 123.43 continues to hold. However, only above 127.71/94 allows for an extension up to 129.50 retracement resistance.
– EURSEK: All eyes now on the 8.5309 support level. We expect a break below here to challenge the more significant neckline support zone of 8.5057/22.
– EURNOK: Top put in place, with the breakdown through 7.3868. We see risk back to 7.3550 initially. Below here then exposes 7.2920 chart support.
Today’s trades/positions:
– EURGBP: Flat. Booked profit at .8537. Sell again at .8610, targeting .8365, stop at .8665.
– EURJPY: Short from 125.00, targeting 120.10, stop at 127.50.
– EURSEK: Short from 8.6650, target 8.5100, stop now at 8.6500.
– EURNOK: Short from 7.4100, targeting 7.3200, stop now at 7.4100.
– EURAUD: Short from 1.3000, target 1.2803, stop at 1.3101. Sell again at 1.3140 if stopped out, for 1.2803, stop at 1.3190.
– EURNZD: Short through 1.6170, targeting 1.5850, stop now 1.6170.
– EURCAD: Short again at 1.3500, target 1.3310, stop at 1.3535.
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Credit Suisse