Today’s highlights:
– EURGBP: Rebound back challenging topping trendline resistance at .8632. We expect a reversal lower from the upper end of this current range and for a decline lower to .8364/50.
– EURJPY: 127.71/94 resistance zone continues to cap the market for now. We expect another test of 123.43 and the bias is for a break below here to 121.22 initially.
– EURAUD: Range bound for now, but we believe the market is topping out, with risk through 1.2923/08 support for back to the 1.2797 retracement support.
– EURNZD: Grind lower continues and the risk remains skewed to the downside for a test of the 1.5830 retracement support, and then lower again for 1.5750/1.5685.
Today’s trades/positions:
– EURGBP: 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 targeting 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 targeting 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 1.6138.
– EURCAD: Stopped out at 1.3535. Sell again at 1.3485 targeting 1.3341, stop at 1.3566.
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