Today’s highlights:
– EURUSD: Poised at key throwback/50% retracement/200-day MA support zone at 1.2876/70. Ideally this holds with recovery risk to 1.3319, but below sees the decline continue for 1.2662.
– USDJPY: Market completes a near-term top after breaking through 95.45 and then 95.00. Downside risk exists to 92.75 trendline support.
– AUDUSD: 1.0416 61.8% retracement resistance caps initially. But whilst above 1.0267 interim support, the immediate focus is set to remain higher for 1.0498, then 1.0581.
– GBPUSD: Strong weekly reversal puts the immediate focus back on 1.5223/33/68 resistance cluster. Above needed to target 1.5519.
Today’s trades/positions:
– EURUSD: Long again at 1.2931, target 1.3300, stop 1.2855.
– USDJPY: Long from 94.75, add at 93.10, targeting 99.50, stop now at 92.10.
– GBPUSD: Long from 1.4901 targeting 1.5220, stop now 1.5050.
– USDCHF: Long from .9432, for .9750, stop at .9288.
– AUDUSD: Long through 1.0377, add at 1.0285, for 1.0495, stop at 1.0202.
– NZDUSD: Short at .8225 targeting .8080, stop/reverse through .8300.
– USDCAD: Short again at 1.0285, target/reverse 1.0190, stop/reverse now 1.0255 (for 1.0400).
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Credit Suisse