Today’s highlights:
USD/JPY: Friday’s prod below the key prior support zone at 76.31/30/25 hints at extended losses towards next support at 74.80.
GBP/USD: Bearish reversal from 1.6619 resistance on Friday hints at a top. Through 1.6422 completes, and implies a correction back to 1.6300 channel support.
USD/CHF: Still in consolidation mode for now, as market reverts back towards .7770 neckline support. We see scope for weakness through here to .7653 38.2% retrace support.
NZD/USD: Sell-off begins to accelerate lower towards the 61.8% retracement support level of .8141. Risk through here to .8069/78.
Today’s trades:
EUR/USD: Average short from 1.4353, target 1.4160, stop placed at 1.4460. Retry short again at 1.4512 if stopped out.
USD/JPY: Stopped out and reversed short at 76.19, add at 76.80. Target 74.85, stop placed at 77.40.
GBP/USD: Stopped out at 1.6550. Retry short again at 1.6500, targeting 1.6300, stop placed at 1.6640.
USD/CHF: Long at .7830, for .8140, stop/reverse .7755 (for .7653).
AUD/USD: Stopped out and reversed short at 1.0405. Add at 1.0500, target set at 1.0210, stop placed at 1.0610.
NZD/USD: Averaged short at .8273, target .8000, stop placed at .8400.
USD/CAD: Long at .9882 targeting 1.0100, stop/reverse through .9767
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/08/document-804344740.pdf
Credit Suisse
FIXED INCOME RESEARCH & ANALYTICS