Today’s highlights:
– EURGBP: Rebounding back to .8685./8724 resistance zone. Whilst capped by this resistance zone, the bias remains broadly lower for an eventual break through .8571/6 to .8442/11.
– EURSEK: Doji reversal off 8.3053 support signals a defence of the 78.6% retracement at 8.3065. We expect a rebound higher to 8.4019, and potentially then 8.4630.
– EURJPY: Still challenging the pivotal 122.20 resistance hurdle once again. We reiterate that whilst capped here the focus is back to 118.73 support.
– EURAUD: Break below 1.2675/77 support exposes the key intermediate-term upward trendline located at 1.2628. We still believe this decline is corrective in nature.
Today’s trades/positions:
– EURGBP: Short from .8660 targeting .8450, stop at .8770.
– EURJPY: Scratched short at 122.00. Re-sell at 124.00, targeting 119.00, stop at 125.45.
– EURSEK: Buy through 8.3373 targeting 8.4600, stop at 8.2800.
– 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 widened to 1.5495.
– EURCAD: Long from 1.3370 targeting 1.3690, with a stop/reverse through 1.3320.
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