EUR/USD: "$1.4981 caps the topside, heavy below initial resistance $1.4949.
" USD/JPY: "Bull trend violated momentarily, but only a break of 108.03 yen Fibonacci retracement would open the door toward the 107.27/21 to 106.55/39 support zone. Resistance now at 109.53."
GBP/USD: "Momentum failed to sustain above $1.8787, likely to test $1.8606, pressure on $1.8513 is still high.
GBP/USD: "Momentum failed to sustain above $1.8787, likely to test $1.8606, pressure on $1.8513 is still high.
EUR/USD: "The euro surprised us and closed above its key 9-day moving average yesterday (this is currently located at $1.4817 today). However with longer term momentum still negative and the market still indicated to be in a downtrend, we continue to view gains are corrective and vulnerable to fail on the upside (maximum upside risk $1.4932/downtrend location)".
EUR/JPY: "Prices should hold above 160.00 today, although a weekly close below 161.40 yen might add to bearish pressure next week, as it should if we hold below 162.65 today. Late this month we continue to expect a drop to 158.00, and further out a slide to 152.00. Below here and the long term picture gets seriously interesting."
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