Today’s highlights:
– EURGBP: Market defends .8571/6 support initially, however, whilst capped by the .8685/.8724 resistance zone, the focus looks set to continue lower broadly for .8442/11.
– EURSEK: Target support zone of 8.3134/8.3065 met. We expect the market to hold this support zone initially, and for a rebound higher to 8.4019 to unfold.
– EURNOK: Prod below 7.4351 range/neckline support secures the anticipated top. Risk lower to 7.4014/7.3760 chart/trendline support, where we think renewed buying should appear.
– EURAUD: Back probing the 1.2677/5 support zone. Some overshoot risk below here to trendline support at 1.2628, but we look for the 1.2560/54/30 cluster to hold firm.
Today’s trades/positions:
– EURGBP: Short from .8660 targeting .8450, stop at .8770.
– EURJPY: Short from 122.00 targeting 117.00, stop now at 122.00. Resell at 124.00.
– EURSEK: Sell at 8.4000 targeting 8.3150, stop at 8.4650.
– EURNOK: Stopped out at 7.4350. Re-buy again at 7.4065, for 7.5500, stop at 7.3600.
– EURAUD: Long from 1.2730, add at 1.2635, targeting 1.3100, stop widened to 1.2525.
– EURNZD: Long from 1.5520 targeting 1.6000, stop at 1.5595.
– EURCAD: Long from 1.3370 targeting 1.3690, with a stop/reverse through 1.3320.
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