Tag: Euro

The Euro broke primary support at $1.26 against the greenback. A peak below zero on 63-day Twiggs Momentum indicates continuation of the primary down-trend. Expect a test of the 2010 low at $1.19/$1.20.

* Target calculation: 1.26 – ( 1.35 – 1.26 ) = 1.17

Pound Sterling is consolidating between €1.2350 and €1.2600 against the euro. Reversal below the lower trend channel would warn of a correction, while breakout above €1.2600 would signal continuation of the primary advance. Completion of a bearish divergence on 63-Day Twiggs Momentum would strengthen a bear signal.

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

The Euro is headed for a test of primary support at $1.26 against the greenback, after breaking support at $1.30. Respect of the zero line by 63-day Twiggs Momentum indicates continuation of the primary down-trend. Failure of support would signal a decline to $1.17*.

* Target calculation: 1.26 – ( 1.35 – 1.26 ) = 1.17

Pound Sterling continues to strengthen against the euro, testing resistance at €1.26*. The 63-day Twiggs Momentum trough high above zero indicates a strong up-trend. Weak retracement which fails to test the new support level around  €1.22 would alert us to an accelerating/exponential up-trend.

* Target calculation: 1.22 + ( 1.22 – 1.18 ) = 1.26

The euro broke support at $1.30, completing a bearish descending triangle on the weekly chart and signaling another test of primary support at $1.26. In the longer term, breach of $1.26 would offer a target of $1.17*. Respect of the zero line (from below) by 63-day Twiggs Momentum strengthens the bear signal.

* Target calculation: 1.26 – ( 1.35 – 1.26 ) = 1.17

Pound Sterling is in a strong primary up-trend against the euro, with 63-day Twiggs Momentum completing troughs high above zero. Target of  €1.255* for the current advance is about to be broken.

* Target calculation: 1.215 + ( 1.215 – 1.175 ) = 1.255

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

The euro continues to test medium-term support at $1.30. With the dollar currently “the best horse in the glue factory”, support is likely to fail, signaling a re-test of the primary level at $1.26. A 63-day Twiggs Momentum peak below zero would indicate continuation of the primary down-trend; failure of primary support would confirm.

* Target calculation: 1.26 – ( 1.35 – 1.26 ) = 1.17

Sterling is testing resistance at $1.62. Recovery of 63-day Twiggs Momentum above zero indicates a primary advance, but news that the UK has dipped back into recession may inhibit further gains. Reversal below the rising trendline would warn of another test of primary support at $1.53, while breakout above $1.62 would signal an advance to the 2011 high of $1.67.