Today’s highlights:
– EURGBP: Rebounding higher as support at .8571 holds for now. Despite this, we expect upside to be limited to .8686 resistance, with risk still lower for .8442.
– EURJPY: Market holds medium-term upward trendline support at 122.90. The immediate focus now shifts back to 126.96 and the recent high of 127.71.
– EURAUD: Support found at 1.2848, ahead of our target at 1.2797. After the reversal higher, we expect a recovery back to 1.3162/92 initially.
– EURNZD: Rebound from upward trendline and support at 1.5642 targets 1.5921 initially, and then eventually higher for 1.6136.
Today’s trades/positions:
– EURGBP: Short through .8628, targeting .8445, stop at .8691.
– EURJPY: Scratched short at 125.00. Buy at 124.00, targeting 127.00, stop/reverse through 122.80.
– EURSEK: Sell again at 8.4925, targeting 8.4175, stop at 8.5380.
– EURNOK: Long from 7.3940, add at 7.3600, targeting 7.4700, stop at 7.3400.
– EURAUD: Short from 1.3000, target/reverse now 1.2940, stop/reverse at 1.3000 (for 1.3250).
– EURNZD: Buy at 1.5800, targeting 1.6200, stop at 1.5620.
– EURCAD: Short from 1.3450, target/reverse now 1.3400, stop/reverse now 1.3450 (for 1.3700).
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Credit Suiss