Today’s highlights:
– EURGBP: Downtrend persists lower and is fast approaching the key .8442/11 support zone. In the event of a continuation below here, the market then turns its focus on .8300.
– EURJPY: Holding neckline/wedge support so far at 120.09. Only a break below 120.09 would expose range lows and more critical support at 118.73.
– EURSEK: Sell-off continues lower after the break below trend support previously located at 8.3602. The risk is now back to 8.3130 initially, potentially then 8.2540.
– EURCAD: Break below 1.3106/00 support zone reinforces the medium-term downtrend, while also exposing next support placed at 1.2919.
Today’s trades/positions:
– EURGBP: Sell again at .8525, target .8415, stop at .8564.
– EURJPY: Long at 123.10, target now 124.15, stop/reverse through 120.00.
– EURSEK: Sell at 8.3800 targeting 8.2900, stop at 8.4600.
– EURNOK: Long from 7.5000 targeting 7.5950 stop at 7.4500.
– EURAUD: Sell at 1.2410 targeting 1.2215, stop/reverse through 1.2496.
– EURNZD: Flat. Booked profit 1.5300.
– EURCAD: Reversed short again through 1.3100, target 1.2940, stop now at 1.3100.
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Credit Suisse