The euro is headed for another test of support at $1.30. Failure would complete a small bearish descending triangle on the weekly chart. Breach of primary support at $1,26 would offer a long-term target of $1.17*. Respect of the zero line (from below) by 63-day Twiggs Momentum would strengthen the signal.
* Target calculation: 1.26 – ( 1.35 – 1.26 ) = 1.17
Pound Sterling is in a primary up-trend against the euro, as indicated by 63-day Twiggs Momentum above zero. Target for the current advance is €1.255*.
* Target calculation: 1.215 + ( 1.215 – 1.175 ) = 1.255