Forex: Euro, Pound & Yen

The Euro is headed for another test of resistance at $1.35. Breakout would signal an initial advance to $1.40. Recovery of 63-day Twiggs Momentum above zero would signal a primary up-trend.

EUR/USD

* Target calculation: 1.35 + ( 1.35 – 1.30 ) = 1.40

Pound Sterling displays a similar pattern, testing resistance at $1.60. Recovery of 63-day Twiggs Momentum above zero signals a primary up-trend. Initial target for the breakout would be $1.64.

GBP/USD

* Target calculation: 1.60 + ( 1.60 – 1.56 ) = 1.64

The Greenback  is retracing against the Japanese Yen, testing medium-term support at ¥82. A short retracement is likely and respect of support at ¥82 would signal another strong advance.

USD/JPY

* Target calculation: 84 + ( 84 – 82 ) = 86

2 thoughts on “Forex: Euro, Pound & Yen

  1. Stephen Piercy says:

    Re: the weekly gold chart. On such a long-term chart isn’t it more accurate to use a logarithmic chart? On such a chart the current uptrend would have started at the beginning of 2009 and that uptrend line has already been breached.

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