{"id":4684,"date":"2012-06-21T01:23:42","date_gmt":"2012-06-21T05:23:42","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=4684"},"modified":"2012-06-21T01:23:42","modified_gmt":"2012-06-21T05:23:42","slug":"forex-europe-australia-canada-south-africa-and-japan","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/21\/forex-europe-australia-canada-south-africa-and-japan\/","title":{"rendered":"Forex: Europe, Australia, Canada, South Africa and Japan"},"content":{"rendered":"<p>The Euro is testing its new resistance level at $1.26. Respect would offer a target of $1.17*. Bullish divergence on 63-day Twiggs Momentum, however, warns that the down-trend is weakening; recovery above zero would suggest reversal to a primary up-trend. Breach of the descending trendline would strengthen the signal.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-06-21-eur.png?w=525&#038;ssl=1\" alt=\"EUR\/USD\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 1.26 &#8211; ( 1.35 &#8211; 1.26 ) = 1.17<\/span><\/p>\n<p>Pound Sterling displays a strong up-trend against the euro, again testing resistance at \u20ac1.25. Breakout would signal an advance to \u20ac1.30*. 63-Day Twiggs Momentum oscillating high above zero indicates trend strength.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-06-21-gbp.png?w=525&#038;ssl=1\" alt=\"GBP\/USD\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 1.26 + ( 1.26 &#8211; 1.22 ) = 1.30<\/span><\/p>\n<p>The Greenback has corrected sharply against the Japanese Yen before finding medium-term support at \u00a578. Recovery above \u00a580 (and the descending trendline) would indicate that the correction is over, while breach of support would test primary support at \u00a575.50\/76.50. The long-term bullish divergence on 63-Day Twiggs Momentum continues to warn of reversal to an up-trend.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-06-21-jpy.png?w=525&#038;ssl=1\" alt=\"USD\/JPY\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 84 + ( 84 &#8211; 78 ) = 90<\/span><\/p>\n<p>Sharply falling <a title=\"Crude Oil\" href=\"http:\/\/goldstocksforex.com\/2012\/06\/20\/rising-dollar-suggests-lower-gold-and-commodities\/\" target=\"_blank\">crude oil prices<\/a> have weakened Canada&#8217;s Loonie relative to the Aussie Dollar. Against the greenback, the Loonie bounced of short-term support at $0.96 but this is unlikely to last and we should expect a test of primary support at $0.94\/0.95. A 63-day Twiggs Momentum peak below zero would warn of a primary down-trend.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-06-21-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: 0.96 &#8211; ( 0.98 &#8211; 0.96 ) = 0.94<\/span><\/p>\n<p>The Aussie Dollar lifted along with commodity prices and is headed for a test of $1.02 (USD). Upward breakout would signal an advance to $1.08, while respect of resistance (and the descending trendline) would warn of a decline to $0.90*. A 63-day Twiggs Momentum peak below zero would strengthen the bear signal.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-06-21-aud.png?w=525&#038;ssl=1\" alt=\"Aussie Dollar\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 0.96 &#8211; ( 1.02 &#8211; 0.96 ) = 0.90<\/span><\/p>\n<p>The Aussie Dollar is headed for a test of resistance at R8.50 (South African Rand). Breakout would offer a target of R9.00*. Reversal of 63-Day Twiggs Momentum below zero, however, would warn of a primary down-trend.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-06-21-zar.png?w=525&#038;ssl=1\" alt=\"Aussie Dollar\/South African Rand\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 8.50 + ( 8.50 &#8211; 8.00 ) = 9.00<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Euro is testing its new resistance level at $1.26. Respect would offer a target of $1.17*. Bullish divergence on 63-day Twiggs Momentum, however, warns that the down-trend is weakening; recovery above zero would suggest reversal to a primary up-trend. Breach of the descending trendline would strengthen the signal. * Target calculation: 1.26 &#8211; ( &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/21\/forex-europe-australia-canada-south-africa-and-japan\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex: Europe, Australia, Canada, South Africa and Japan&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"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":[287,558,2149,3184],"class_list":["post-4684","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-aussie-dollar","tag-canadian-dollar","tag-loonie","tag-south-african-rand"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Forex: Europe, Australia, Canada, South Africa and Japan - 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: Europe, Australia, Canada, South Africa and Japan - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The Euro is testing its new resistance level at $1.26. Respect would offer a target of $1.17*. Bullish divergence on 63-day Twiggs Momentum, however, warns that the down-trend is weakening; recovery above zero would suggest reversal to a primary up-trend. 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He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters. Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events. He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-1dy","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":4391,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/17\/forex-uk-and-europe\/","url_meta":{"origin":4684,"position":0},"title":"Forex: UK and Europe","author":"Colin Twiggs","date":"May 17, 2012","format":false,"excerpt":"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 - (\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":4442,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/24\/forex-uk-and-europe-2\/","url_meta":{"origin":4684,"position":1},"title":"Forex: UK and Europe","author":"Colin Twiggs","date":"May 24, 2012","format":false,"excerpt":"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\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":4314,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/09\/forex-euro-and-pound-sterling-2\/","url_meta":{"origin":4684,"position":2},"title":"Forex: Euro and Pound Sterling","author":"Colin Twiggs","date":"May 9, 2012","format":false,"excerpt":"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\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":4219,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/26\/forex-euro-and-pound-sterling\/","url_meta":{"origin":4684,"position":3},"title":"Forex: Euro and Pound Sterling","author":"Colin Twiggs","date":"April 26, 2012","format":false,"excerpt":"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\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":4065,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/04\/12\/forex-euro-pound-sterling-and-yen-2\/","url_meta":{"origin":4684,"position":4},"title":"Forex: Euro, Pound Sterling and Yen","author":"Colin Twiggs","date":"April 12, 2012","format":false,"excerpt":"The Euro is again testing support at $1.30. The short weekly candle at the support level warns of a downward breakout to test primary support at $1.26. A 63-day Twiggs Momentum peak below zero would suggest continuation of the primary down-trend. In the long term, failure of $1.26 would signal\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":4270,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/05\/03\/forex-euro-pound-sterling\/","url_meta":{"origin":4684,"position":5},"title":"Forex: Pound Sterling strengthens against Euro","author":"Colin Twiggs","date":"May 3, 2012","format":false,"excerpt":"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\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":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4684","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=4684"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/4684\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=4684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=4684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=4684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}