Today’s highlights:
– EURGBP: Violation of the .8571/6 neckline/range support zone signals a top, with risk lower to the .8442/11 support zone.
– EURJPY: Market gaps lower and prods below tentative trendline. The focus is on 120.36, and more significantly the range support level of 118.73.
– EURNOK: Another higher high as expected, however, the 7.5738 78.6% retracement caps for now.
– EURCAD: Attempting to rebound higher from 1.3182 trendline support. We expect a recovery higher for 1.3416. Through here is needed to target 1.3540 again.
Today’s trades/positions:
– EURGBP: Flat. Stopped out at .8570. Sell again at .8600 targeting .8435, stop at .8675.
– EURJPY: Flat. Stopped out at 123.50.
– EURSEK: Long from 8.3450 targeting 8.4550, stop at 8.2960.
– EURNOK: Stopped out at 7.5000. Buy at 7.4900 targeting 7.5950, stop at 7.4250.
– EURAUD: Buy at 1.2415 targeting 1.2600, stop at 1.2350.
– EURNZD: Took profit at 1.5660. Buy again at 1.5650 targeting 1.6100, stop at 1.5580.
– EURCAD: Target met and reversed long at 1.3190 for 1.3525, stop at 1.3170.
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Credit Suisse