The Euro is testing primary support at $1.26 against the greenback. A peak below zero on 63-day Twiggs Momentum indicates continuation of the primary down-trend. Failure of support would test the 2010 low of $1.19/$1.20.
* Target calculation: 1.26 – ( 1.35 – 1.26 ) = 1.17
Pound Sterling continues to test resistance at €1.26 against the euro. 63-Day Twiggs Momentum high above zero indicates a strong up-trend. Weak retracement which fails to test the new support level around €1.22 would indicate an accelerating/exponential up-trend.
* Target calculation: 1.26 + ( 1.26 – 1.22 ) = 1.30