EurUsd Euro posted a new all-time high 1.5462 on Friday. Should we break down through 1.5227 (23.6% retracement), expect the door wide open to 1.5077 (38.2% retracement). On the upside, the next target is 1.5470, a 100% extension of the last intermediate high-low.
GbpUsd Cable advanced as high as 2.0217 on Friday. Yesterday, the pair bounced right off its daily Winnipeg line. The latest move up keeps the pair bullish in the short-term, looking to cross 2.0253, the 50% retracement of the 2.1166 â€“ 1.9339 high-low, and aim for 2.0468, the 61.8% retracement. For now, downside risk remains high with 2.0037 providing support and targeting 1.9770.
UsdJpy consolidating around the January 17th, 2005 low and the bottom of the weekly lower trend line of the downtrend. Upside risk remains very high, with 104.22 in close sight. Very strong support clearly shown at 101.40; a break of this level would be very bearish.
UsdChf is very interesting lately, as the pair blasts down through the double bottom of 1.1287, triple bounced at the lower trend line, and broke down into unchartered territory. All signs now point to a 161.8% extension of the last major high-low at 1.0045. Expect a spike to the psychological parity level.