{"id":5273,"date":"2012-08-16T01:01:32","date_gmt":"2012-08-16T05:01:32","guid":{"rendered":"http:\/\/goldstocksforex.com\/?p=5273"},"modified":"2012-08-16T01:01:32","modified_gmt":"2012-08-16T05:01:32","slug":"forex-euro-pound-sterling-canadian-loonie-australian-dollar-and-japanese-yen-2","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/16\/forex-euro-pound-sterling-canadian-loonie-australian-dollar-and-japanese-yen-2\/","title":{"rendered":"Forex: Euro, Pound Sterling, Canadian Loonie, Australian Dollar and Japanese Yen"},"content":{"rendered":"<p>The Euro is testing short-term support at $1.2250 on the daily chart. Recovery above $1.2400 would indicate another rally, while failure of support would test primary support at $1.2050. The primary trend is still downwards, but breach of the descending trendline means the primary down-trend is losing momentum and a bottom is forming. Failure of primary support is unlikely but would warn of another down-swing, with a target of $1.185.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-08-16-eur.png?w=525&#038;ssl=1\" alt=\"Euro\/USD\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 1.215 &#8211; ( 1.245 &#8211; 1.215 ) = 1.185<\/span><\/p>\n<p>Pound Sterling found support at\u00a0\u20ac1.255 against the Euro before rallying to\u00a0\u20ac1.28. Narrow consolidation between\u00a0\u20ac1.27 and\u00a0\u20ac1.28 suggests continuation of the rally. Breach of resistance at\u00a0\u20ac1.29 would signal an advance to \u20ac1.315*. Rising 63-day Twiggs Momentum reflects a strong primary up-trend.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-08-16-gbp.png?w=525&#038;ssl=1\" alt=\"Pound Sterling\/Euro\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 1.285 + ( 1.285 &#8211; 1.255 ) = 1.315<\/span><\/p>\n<p>Canada&#8217;s Loonie is headed for a test of resistance against the greenback at $1.02.\u00a0 Bullish divergence on 63-day Twiggs Momentum on the weekly chart suggests a primary up-trend; confirmed if resistance at $1.02 is broken.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-08-16-cad.png?w=525&#038;ssl=1\" alt=\"Canadian Loonie\/Aussie Dollar\" \/><\/p>\n<p>Shallow retracement of the Aussie Dollar against the greenback suggests trend strength. Recovery above $1.06 would indicate an advance to $1.075. Breakout above $1.075\/$1.08 would offer a long-term target of $1.20* but RBA intervention, to protect local industry, could be a factor<em>.<\/em><\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-08-16-aud.png?w=525&#038;ssl=1\" alt=\"Aussie Dollar\/USD\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 1.045 + ( 1.045 &#8211; 1.015 ) = 1.075<\/span><\/p>\n<p>The greenback found support at \u00a578 against the Japanese Yen. Rising Twiggs Momentum and penetration of the descending trendline both warn that a bottom is forming. Recovery above \u00a580.50 would complete a double bottom reversal, suggesting an advance to \u00a584.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-08-16-jpy.png?w=525&#038;ssl=1\" alt=\"US Dollar\/Japanese Yen\" \/><\/p>\n<p style=\"text-align:right;font-size:.9em;\"><span style=\"color:#999999;\">* Target calculation: 81 + ( 81 &#8211; 78 ) = 84<\/span><\/p>\n<p>The Aussie Dollar broke medium-term resistance at \u00a582 against the Japanese Yen, headed for a test of the upper range border at \u00a588\/\u00a590. Rising 63-Day Twiggs Momentum and recovery above zero suggest a primary up-trend as the Aussie Dollar attracts capital inflows.<\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2012\/2012-08-16-audjpy.png?w=525&#038;ssl=1\" alt=\"Aussie Dollar\/Japanese Yen\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Euro is testing short-term support at $1.2250 on the daily chart. Recovery above $1.2400 would indicate another rally, while failure of support would test primary support at $1.2050. The primary trend is still downwards, but breach of the descending trendline means the primary down-trend is losing momentum and a bottom is forming. Failure of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/16\/forex-euro-pound-sterling-canadian-loonie-australian-dollar-and-japanese-yen-2\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Forex: Euro, Pound Sterling, Canadian Loonie, Australian Dollar and Japanese Yen&#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":[38,40,7,33,34],"tags":[287,560,1292,1935,2727],"class_list":["post-5273","post","type-post","status-publish","format-standard","hentry","category-africa-south-america","category-australia-nz-countries-regions","category-forex","category-uk-europe-countries-regions","category-us-canada-countries-regions","tag-aussie-dollar","tag-canadian-loonie","tag-euro","tag-japanese-yen","tag-pound-sterling"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Forex: Euro, Pound Sterling, Canadian Loonie, Australian Dollar and Japanese Yen - 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: Euro, Pound Sterling, Canadian Loonie, Australian Dollar and Japanese Yen - the patient investor\" \/>\n<meta property=\"og:description\" content=\"The Euro is testing short-term support at $1.2250 on the daily chart. Recovery above $1.2400 would indicate another rally, while failure of support would test primary support at $1.2050. The primary trend is still downwards, but breach of the descending trendline means the primary down-trend is losing momentum and a bottom is forming. 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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-1n3","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":4773,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/07\/05\/forex-euro-pound-sterling-canadian-loonie-australian-dollar-japanese-yen-and-south-african-rand\/","url_meta":{"origin":5273,"position":0},"title":"Forex: Euro, Pound Sterling, Canadian Loonie, Australian Dollar, Japanese Yen and South African Rand","author":"Colin Twiggs","date":"July 5, 2012","format":false,"excerpt":"The Euro broke support at $1.25 before falling sharply through $1.24, warning of another decline. Narrow consolidation below the new resistance level is a bearish sign. Follow-through below $1.23 would offer a target of $1.20. Pound Sterling broke resistance at \u20ac1.25 against the Euro, offering a target of \u20ac1.28. *\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5209,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/10\/forex-euro-pound-sterling-canadian-loonie-australian-dollar-south-african-rand-and-japanese-yen-3\/","url_meta":{"origin":5273,"position":1},"title":"Forex: Euro, Pound Sterling, Canadian Loonie, Australian Dollar, South African Rand and Japanese Yen","author":"Colin Twiggs","date":"August 10, 2012","format":false,"excerpt":"The Euro retreated after encountering resistance at $1.2400\/1.2450. Respect of the rising trendline, however, would confirm that the primary down-trend is losing momentum and a bottom is forming. Recovery above $1.2450 would strengthen the signal. Reversal below $1.2150 would warn of another down-swing -- confirmed if primary support at $1.2050\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":8089,"url":"https:\/\/thepatientinvestor.com\/index.php\/2013\/07\/11\/forex-dollar-falls-sharply-against-euro-aussie-loonie-and-yen\/","url_meta":{"origin":5273,"position":2},"title":"Forex: Dollar falls sharply against Euro, Aussie, Loonie and Yen","author":"ColinTwiggs","date":"July 11, 2013","format":false,"excerpt":"The dollar fell sharply against the Euro and Sterling. The Euro jumped from primary support at $1.28 to medium-term resistance at $1.32. Breakout above $1.32 would suggest a primary advance, with a target of $1.40* -- confirmed if resistance at $1.34 is broken. But oscillation of 63-day Twiggs Momentum around\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5356,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/08\/30\/forex-euro-pound-sterling-canadian-loonie-australian-dollar-and-japanese-yen-3\/","url_meta":{"origin":5273,"position":3},"title":"Forex: Euro, Pound Sterling, Canadian Loonie, Australian Dollar and Japanese Yen","author":"Colin Twiggs","date":"August 30, 2012","format":false,"excerpt":"A monthly chart shows the euro testing long-term support at $1.20 against the greenback. Recovery above the steeply descending trendline would indicate another test of the upper triangle border, while failure of support would indicate long-term re-alignment. Indications, from president Mario Draghi, that the ECB will further expand its balance\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":4723,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/06\/28\/forex-euro-pound-sterling-australian-dollar-and-canadian-loonie\/","url_meta":{"origin":5273,"position":4},"title":"Forex: Euro, Pound Sterling, Australian Dollar and Canadian Loonie","author":"Colin Twiggs","date":"June 28, 2012","format":false,"excerpt":"The Euro retreated below support at $1.26, indicating a test of the 2010 low at $1.19\/1.20. Breach of the rising trendline on 63-day Twiggs Momentum would strengthen the bear signal. Pound Sterling is testing resistance at $1.58 against the greenback. Respect would indicate\u00a0 another test of primary support at $1.52.\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5409,"url":"https:\/\/thepatientinvestor.com\/index.php\/2012\/09\/07\/forex-euro-pound-sterling-canadian-loonie-australian-dollar-and-japanese-yen-4\/","url_meta":{"origin":5273,"position":5},"title":"Forex: Euro, Pound Sterling, Canadian Loonie, Australian Dollar and Japanese Yen","author":"Colin Twiggs","date":"September 7, 2012","format":false,"excerpt":"The Euro is headed for $1.275, unaffected so far by the announcement that the ECB will purchase government bonds in the secondary market. Expect strong\u00a0resistance at $1.275, reversal below the lower trend channel would warn of a correction. Pound Sterling is weakening against the euro, with a descending triangle testing\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":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/5273","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=5273"}],"version-history":[{"count":0,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/5273\/revisions"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=5273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=5273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=5273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}