{"id":2645,"date":"2011-12-15T04:24:36","date_gmt":"2011-12-15T09:24:36","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=2645"},"modified":"2011-12-15T04:24:36","modified_gmt":"2011-12-15T09:24:36","slug":"forex-update-euro-breaks-support","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/15\/forex-update-euro-breaks-support\/","title":{"rendered":"Forex update: Euro breaks support"},"content":{"rendered":"<p>The euro broke through primary support at $1.32, warning of another primary decline with a target of $1.22*. Declining 63-day Twiggs Momentum indicates a strong primary down-trend.<br \/>\n<img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-12-15_eur.png?w=525&#038;ssl=1\" alt=\"Euro\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 1.32 &#8211; ( 1.42 &#8211; 1.32 ) = 1.22<\/span><\/p>\n<p>Pound Sterling is testing primary support at $1.54, while 63-day Twiggs Momentum is below zero. Failure of support would signal a primary decline to $1.46.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-12-15_gbp.png?w=525&#038;ssl=1\" alt=\"Pound Sterling\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 1.54 &#8211; ( 1.62 &#8211; 1.54 ) = 1.46<\/span><\/p>\n<p>The Aussie Dollar retreated below parity, indicating another test of medium term support at $0.97. Failure would test primary support at $0.94\/$0.95. Respect of the zero line by 63-day Twiggs Momentum indicates a continuing primary down-trend. Weakening commodity prices, especially <a title=\"Coal and Iron Ore Prices Weakening\" href=\"http:\/\/goldstocksforex.com\/2011\/12\/14\/bulk-trouble-macrobusiness-com-au-macrobusiness-com-au\/\" target=\"_blank\">coal and iron ore<\/a>, should strengthen the down-trend.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-12-15_aud.png?w=525&#038;ssl=1\" alt=\"Australian Dollar\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 0.97 &#8211; ( 1.03 &#8211; 0.97 ) = 0.91<\/span><\/p>\n<p>The Canadian Loonie is headed for a test of primary support at $0.94\/$0.95. 63-Day Twiggs Momentum holding below zero suggests a continuing primary down-trend.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-12-15_cad.png?w=525&#038;ssl=1\" alt=\"Canadian Dollar\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 0.95 &#8211; ( 1.00 &#8211; 0.95 ) = 0.90<\/span><\/p>\n<p>A monthly chart of the Greenback against the Yen shows strong bullish divergence on 63-day Twiggs Momentum, suggesting reversal of the primary down-trend. Breakout above \u00a580 and the descending trendline would confirm the signal.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-12-15_jpy.png?w=525&#038;ssl=1\" alt=\"Japanese Yen\" \/><\/p>\n<p>The US Dollar continues in a strong up-trend against both the South African Rand and Brazilian Real, helped by falling commodity prices. Breakout above R8.60 would signal a further advance to R9.20.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2011\/2011-12-15_zar-brl.png?w=525&#038;ssl=1\" alt=\"South African Rand and Brazilian Real\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 8.60 + ( 8.60 &#8211; 8.00 ) = 9.20<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The euro broke through primary support at $1.32, warning of another primary decline with a target of $1.22*. Declining 63-day Twiggs Momentum indicates a strong primary down-trend. * Target calculation: 1.32 &#8211; ( 1.42 &#8211; 1.32 ) = 1.22 Pound Sterling is testing primary support at $1.54, while 63-day Twiggs Momentum is below zero. Failure &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/15\/forex-update-euro-breaks-support\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex update: Euro breaks support&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[38,40,7,17,33,34],"tags":[292,487,558,1292,1935,2727,3184,3510],"class_list":["post-2645","post","type-post","status-publish","format-standard","hentry","category-africa-south-america","category-australia-nz-countries-regions","category-forex","category-japan-korea","category-uk-europe-countries-regions","category-us-canada-countries-regions","tag-australian-dollar","tag-brazilian-real","tag-canadian-dollar","tag-euro","tag-japanese-yen","tag-pound-sterling","tag-south-african-rand","tag-twiggs-momentum"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Forex update: Euro breaks support - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forex update: Euro breaks support - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The euro broke through primary support at $1.32, warning of another primary decline with a target of $1.22*. Declining 63-day Twiggs Momentum indicates a strong primary down-trend. * Target calculation: 1.32 &#8211; ( 1.42 &#8211; 1.32 ) = 1.22 Pound Sterling is testing primary support at $1.54, while 63-day Twiggs Momentum is below zero. 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Declining 63-day Twiggs Momentum indicates a strong primary down-trend. * Target calculation: 1.32 &#8211; ( 1.42 &#8211; 1.32 ) = 1.22 Pound Sterling is testing primary support at $1.54, while 63-day Twiggs Momentum is below zero. 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Declining 63-day Twiggs Momentum, below zero, warns of continuation of the primary down-trend. Breach of support would indicate a primary decline to $1.22*. * Target calculation: 1.32 - ( 1.42 - 1.32 ) = 1.22 Sterling rallied\u2026","rel":"","context":"In &quot;Africa &amp; South America&quot;","block_context":{"text":"Africa &amp; South America","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/africa-south-america\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1848,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/10\/euro-sinks-dragging-sterling-lower\/","url_meta":{"origin":2645,"position":1},"title":"Euro sinks, dragging sterling lower","author":"ColinTwiggs","date":"November 10, 2011","format":false,"excerpt":"EURUSD broke through $1.36 warning of another test of primary support at $1.32. Respect of the zero line by 63-day Twiggs Momentum confirms a primary down-trend. Failure of support would offer a target of $1.22*. * Target calculation: 1.32 - ( 1.42 - 1.32 ) = 1.22 GBPUSD is being\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1755,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/03\/euro-falters-upset-sterling\/","url_meta":{"origin":2645,"position":2},"title":"Euro falters upset sterling","author":"ColinTwiggs","date":"November 3, 2011","format":false,"excerpt":"The euro retreated below $1.40 and is now consolidating at $1.36. Failure of medium-term support would test the primary level at $1.32. In the long-term, breach of $1.32 (if the Greeks vote \"No\") would offer a target of $1.22*. 63-Day Twiggs Momentum holding below the zero line suggests continuation of\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1941,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/11\/17\/euro-drags-sterling-lower\/","url_meta":{"origin":2645,"position":3},"title":"Euro drags sterling lower","author":"ColinTwiggs","date":"November 17, 2011","format":false,"excerpt":"The euro broke support at $1.36 and is headed for a test of primary support at $1.32. Respect of zero by 63-day Twiggs Momentum signals a strong down-trend. Failure of support would signal a decline to $1.22*. * Target calculation: 1.32 - ( 1.42 - 1.32 ) = 1.22 The\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3674,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/03\/01\/forex-europe-and-japan\/","url_meta":{"origin":2645,"position":4},"title":"Forex: Europe and Japan","author":"ColinTwiggs","date":"March 1, 2012","format":false,"excerpt":"The Euro is in a primary down-trend despite the latest rally, headed for a test of the descending trendline. Expect retracement to test support at $1.32; breach of $1.30 would warn of another test of primary support (at $1.26). * Target calculation: 1.32 - ( 1.42 - 1.32 ) =\u2026","rel":"","context":"In &quot;Forex&quot;","block_context":{"text":"Forex","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2502,"url":"https:\/\/thepatientinvestor.com\/index.php\/2011\/12\/01\/euro-sterling-rally\/","url_meta":{"origin":2645,"position":5},"title":"Euro Sterling rally","author":"ColinTwiggs","date":"December 1, 2011","format":false,"excerpt":"The euro respected primary support at $1.32. Recovery above $1.36 would signal another attempt at $1.42. But the primary trend, as indicated by 63-day Twiggs Momentum below zero, is downward and breakout below $1.32 would signal a decline to $1.22*. * Target calculation: 1.32 - ( 1.42 - 1.32 )\u2026","rel":"","context":"In &quot;UK &amp; Europe&quot;","block_context":{"text":"UK &amp; Europe","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/uk-europe-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/2645","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=2645"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/2645\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=2645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=2645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=2645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}