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