The euro broke medium-term resistance at $1.32, indicating a rally to test the descending trendline at $1.38*. Momentum is rising but the primary trend remains downward.
* Target calculation: 1.32 + ( 1.32 – 1.26 ) = 1.38
Pound Sterling broke its descending trendline, but respect of the zero line by 63-day Twiggs Momentum suggests continuation of the primary down-trend. A fall below $1.565 (the last two weeks low) would warn of another test of primary support at $1.530. Recovery above $1.590 is less likely, but would indicate a rally to test $1.620.
The greenback broke through resistance at ¥80 and is now retracing to test its new support level. Respect would confirm a primary up-trend, signaled by the long-term bullish divergence on 63-day Twiggs Momentum (and its recovery above zero).
* Target calculation: 80 + ( 80 – 75 ) = 85
The Aussie Dollar consolidated against the South African Rand in recent months after a long appreciation. 63-day Twiggs Momentum is declining and breakout below R8.00 would warn of a correction to the rising trendline, with a target of R7.50*. Upward breakout, however, would offer an initial target of R9.00.
* Target calculation: 8.00 – ( 8.50 – 8.00 ) = 7.50
You really don’t no whether you are coming or going, do you?! If it suddenly turned around and collapsed to your last target of 1.20, now that really would be hilarious…..
You still don’t get it (trading with probabilities) do you? I suggest that you ask someone to explain.