Today’s highlights:
EUR/USD: Solid defence of chart (1.4195) and key basing line to another new recovery peak. Focus on 1.4341; through here confirms a base to target 1.4424/43 next
USD/JPY: Despite intraday setback, upside recovery extension targets chart/200-day MA at 82.79/81 into latter part of May
AUD/USD: Grinding out a base, but 1.0718 still required to signal upside potential; otherwise risk is for a setback to better support at 1.0449/43
Today’s trades:
EUR/USD: Long at 1.4240 for 1.4440; stop/reverse 1.4190
USD/JPY: Long at 81.25 for 82.75; stop 80.85
GBP/USD: Long at 1.6106; reverse back to short at 1.6280 or below 1.6090 for 1.5940
USD/CHF: Flat, re-enter long at .8705 for .9006; exit .8670
AUD/USD: Short at 1.0695 for 1.0450; reverse to long here or to flat above 1.0725 (re-enter short below 1.0385)
NZD/USD: Flat, sell at .7965 for .7765; stop/reverse .8006
USD/CAD: Short at .9700 for .9515. Exit above .9805
Click here to read the full report:
http://www.easyforexnews.net/uploads/2011/05/document-804055340.pdf
Credit Suisse
FIXED INCOME RESEARCH & ANALYTICS