Today’s highlights:
EURUSD: Hesitant, but still defensive after bearish “outside” Thursday leaves base exposed to damage through 1.3258. Above 1.3460 needed to resurrect recovery
GBPUSD: Holding above 1.5561 and more notably ahead of 1.5526 support, but push above 1.5781 hurdle needed for a better tone to challenge 1.5869/89 pivot area this week
USDCAD: Bounce from 1.0054/51 foundation stalls at 1.0257/65 pivot area to avoid a more constructive tone. We still look for a cap here for a return to test/breach 1.0054/51
AUDUSD: Despite bounce, whilst below 1.0226, the bearish “outside” Thursday plunge leaves risk skewed down through 1.0113 to 1.0048 with risk lower to .9943
Today’s trades:
EURUSD: Long at 1.3376 for 1.3608; exit/reverse 1.3249
USDJPY: Long at 77.65 for 78.76; reverse to short here (or exit below 76.94) with stop/reverse above 79.55
GBPUSD: Long at 1.5586 for 1.5844; exit/reverse 1.5518
USDCHF: Long at .9088 for .9400; exit/reverse through .9065 for .8776
AUDUSD: Flat, sell at 1.0200 for .9961, reverse to long here; exit short above 1.0231
NZDUSD: Flat, sell at .7748 for .7536, reverse to long here; exit short above .7806
USDCAD: Short at 1.0264 for 1.0056; exit 1.0371
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http://www.easyforexnews.net/wp-content/uploads/2011/12/document-804697560.pdf
Credit Suisse
FIXED INCOME RESEARCH & ANALYTICS