Today’s highlights:
- EURSEK: Market completes a bullish flag pattern off 8.3130 support after breaking above resistance at 8.3559. The risk is for a test of the 8.4019 pivot, and then a break above here to 8.4630.
- EURNOK: Aggressive rally back through 7.5738 retracement resistance to ensure another higher high. We maintain our bullish stance targeting 7.6510 eventually.
- EURCAD: Back challenging the 1.3182 trendline support level. Only a break below here allows for a continuation lower to retracement support at 1.3106.
- EURNZD: A fresh lower low after the recent breakdown through 1.5595. The focus now turns to the 1.5506/00 support zone.
Today’s trades/positions:
- EURGBP: Short from .8600 targeting .8435, stop now .8600.
- EURJPY: Long from 123.20 targeting 127.50, stop at 121.25.
- EURSEK: Long from 8.3450 targeting 8.4550, stop now 8.3000.
- EURNOK: Buy at 7.4900 targeting 7.5950, stop at 7.4250.
- EURAUD: Long from 1.2415, target now 1.2580, stop at 1.2350.
- EURNZD: Buy at 1.5517 targeting 1.5750, stop at 1.5485.
- EURCAD: Long at 1.3190 for 1.3525, stop at 1.3170.
Click here to read the full report: FX Daily
Credit Suisse