The euro is retracing to test the new support level at $1.32, respect would confirm the advance to $1.37*.
* Target calculation: 1.32 + ( 1.32 – 1.27 ) = 1.37
Pound Sterling is testing support at €1.16 against the euro. Failure would indicate a decline to primary support at €1.14 , with a longer term target of €1.10. A 13-week Twiggs Momentum peak below zero would strengthen the bear signal.
The greenback found support at ¥94 against the Yen. The primary trend is still upward and recovery above ¥100 would signal a fresh advance with a target of ¥114*. A 13-week Twiggs Momentum trough above zero would strengthen the signal. Respect of resistance at ¥100, however, would warn of reversal.
* Target calculation: 104 + ( 104 – 94 ) = 114
Canada’s Loonie respected resistance at $0.99 against the greenback and is headed for another test of support at $0.96. Successive peaks below zero on 13-week Twiggs Momentum indicate a healthy primary down-trend. Breach of $0.96 would offer a target of $0.93*.
* Target calculation: 0.96 – ( 0.99 – 0.96 ) = 0.93