Today’s highlights:
GBP/USD: Plunge to our initial September target at key retracement support at 1.5490 now places overshoot risk to 1.5345/5296, which we would look to hold
EUR/USD: Bearish “outside” pattern aims down through 1.3497 to key 1.3428/10 area into week end; risk to our quarter-end target at 1.3050 increasing
AUD/USD: Plunge through 1.0111/07 support targets critical .9933/27 and a more important top for .9574/37
NZD/USD: Breakdown to probe the key 38.2% retracement, .7972, the .7965 spike low and key 200-DMA at .7950. This signals a bigger top for .7755/00, October risk to .7433
USD/CAD: Aggressive 2010-11 trend line reversal and through range peaks, 1.0011/26/60, aims at 1.0300 retracement target
Today’s trades:
EUR/USD: Short through 1.3703 for 1.3430; exit 1.3796
USD/JPY: Short at 77.22, for 76.00, stop 77.90
GBP/USD: Flat, target met on short from 1.5748 at 1.5506. Try tactical long at 1.5356 for 1.5745; exit 1.5286
USD/CHF: Long at .8736 for .9340; exit/reverse .8634
AUD/USD: Flat, target met on short. Retry short at 1.0080 for .9935; stop/reverse here (enter long); reverse back to short through .9900
NZD/USD: Flat, short target met. Sell at .8066 for .7766; exit .8186
USD/CAD: Long at .9851 for 1.0285; exit .9719
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http://www.easyforexnews.net/wp-content/uploads/2011/09/document-804475540.pdf
Credit Suisse
FIXED INCOME RESEARCH & ANALYTICS