The euro fell through support at $1.32 and is headed for a test of primary support at $1.27*. Failure of support would complete a broad head and shoulders reversal, offering a target of $1.17*. Descending 13-week Twiggs Momentum suggests a primary down-trend.
* Target calculation: 1.27 – ( 1.37 – 1.27 ) = 1.17
Pound Sterling is headed for a test of support at $1.50 against the greenback. A 13-week Twiggs Momentum peak below zero suggests a primary down-trend. Failure of support at $1.50 would confirm.
The greenback is headed for a test of ¥100 against the Yen, after finding support at ¥94. The primary trend is 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 found support at $0.95 against the greenback, not $0.96 as expected. Recovery above $0.96 would suggest a rally to test the descending trendline around $0.98*.
* Target calculation: 0.97 – ( 1.00 – 0.97 ) = 0.94
The Aussie Dollar displays a small flag as it rallies to test resistance at $0.94 against the greenback. Respect of resistance is likely and would suggest a decline to $0.90*.
* Target calculation: 0.92 – ( 0.94 – 0.92 ) = 0.90