Today’s highlights:
EURUSD: Mini-base effort negated through 1.3422, with bear extension threat signalled by surrender of 1.3382/45 support. Risk now back to the H2 low, 1.3146, and key retrace support 1.3050 into month-end (to 1.3242 today)
USDCHF: Still within last Friday’s range, but resiliency leaves room for USDCHF to “play catch up”. Risk is up through the recent .9237 peak to challenge and push through the .9317 recovery high to .9400
AUDUSD: Target at .9728/9680 hit; month-end risk to the H2 low, .9388
NZDUSD: Lacklustre bounce since probe below the 61.8% retrace of the 2010-11 up leg, .7433 (and .7469 key low), keeps bear threat to critical cyclical retrace support at .7335
USDCAD: Target hit at 1.0484/95, still energized by the bullish “outside” Friday through multiple resistance. The growing November overshoot risk is to the 2011 high, 1.0658
Today’s trades:
EURUSD: Now short through 1.3419 for 1.3161; exit 1.3430
USDJPY: Short through 77.44 for 76.35; exit 77.92
GBPUSD: Flat, retry short at 1.5644 for 1.5306; exit 1.5716
USDCHF: Long from .8956, now for .9388; exit .9074
AUDUSD: Flat, retry short at .9846 for .9688; exit .9916
NZDUSD: Re-entered short at .7476 for .7356; exit .7531. Reverse to long here; stop/reverse back short below .7324
USDCAD: Flat, try a long at 1.0354 for 1.0584; exit 1.0254
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/11/document-804662750.pdf
Credit Suisse
FIXED INCOME RESEARCH & ANALYTICS