Today’s highlights:
– EURGBP: A fresh lower low, as the downtrend persists lower towards the .8442/11 chart/38.2% Fibonacci retracement support cluster.
– EURJPY: Threatening the 121.57 chart support level. Risks are building for a downside break below here to target 118.73.
– EURNZD: Plunge lower results in the market removing support previously at 1.5500/06. Next cluster of support lies at 1.5446/1.5390, below which allows for risk to 1.5266.
– EURNOK: Reverting lower within the current trend back towards 7.5105. Some overshoot risk below here towards 7.4804 where we envisage renewed buying interest once again.
Today’s trades/positions:
– EURGBP: Short from .8600 target now .8455 stop .8575.
– EURJPY: Long from 123.20 target/reverse now at 123.20, stop/reverse through 121.56 (for 119.10).
– EURSEK: Long from 8.3450 targeting 8.4550, stop now 8.3000.
– EURNOK: Buy at 7.5000 targeting 7.5950 stop at 7.4500.
– EURAUD: Flat. Stopped out at 1.2350.
– EURNZD: Stopped out at 1.5485. Sell at 1.5600 targeting 1.5300, stop at 1.5741.
– EURCAD: Long at 1.3190 target/reverse now 1.3265, stop/reverse through 1.3235 (for 1.3110).
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Credit Suisse