Today’s highlights:
– GBPUSD has collapsed sharply again overnight and we look for further weakness to 1.4873/53.
– USDJPY has rallied strongly overnight to put the spotlight back on key resistance at 94.45/95.00.
– EURUSD beneath 1.3151 keeps corrective risks alive with support next at 1.3063, and pivotal levels at 1.2998.
– USDCAD spotlight remains on the 78.6% Fibonacci retracement of 1.0273, which we look to cap initially. Direct extension through here would look on to 1.0363.
– AUDUSD remains rangebound between 1.0226/21 support and resistance at 1.0370/6. Above 1.0370/6 would complete a base with the risk then higher to 1.0549/8.
Today’s trades/positions:
– EURUSD: Target met and reversed long again at 1.3235, target 1.3400, stop at 1.3145. Buy again at 1.3070 if stopped out.
– USDJPY: Short from 93.90, stop at 95.10, target now 88.10.
– GBPUSD: Sell at 1.5160/1.5200, stop above 1.5260. Target 1.4875.
– USDCHF: Long from .9150, target now .9340, stop now .9265.
– AUDUSD: Reversed long, stop/reverse at 1.0220 for 1.0450.
– NZDUSD: Reversed back long at .8350, stop at .8279 for 8490.
– USDCAD: Covered an existing long at 1.0046. Buy again at 1.0102, stop below 1.0043 for 1.0273.
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