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$EURJPY

EURJPY has done what we called on Sunday evening and broken through the inner trend and bounced on the outer trend wall and is heading back up to either test the top or perhaps take a run at the 114.47 area.  We may find out today as the NY session opens.  Watch for the potential reversal at just below 113.50 if the upper trend holds. This reversal could lead to a nice sell back to the 112.61 area. A break of the upper trend could give the 113.77 a shot or perhaps even the start of the run back to the previous high at 115.68.

 

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$EURUSD - Retesting .786 and R5

Eurusd did indeed break to the topside and cleared the .786 and ran straight to the R5.  It has now pulled back and my test the trend-line that was broken on the way up.  We need to watch for a bounce off of the .618 area around 1.3982 back to 1.4075.  If the test of the .618 does not hold then a run down to the .382 would be likely at around  1.3874.

 

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$GBPUSD wedge

 

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$GBPUSD wedge

 

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$EURUSD Breakout UPDATE-

Eurusd has come up to the 1.4015 area after the breakout north.  Currently we are consolidating. The initial target for the next move up is the 1.4100 area and the The R5.  However, further targets lie at the 1.4120 -1.4200 area.  We have strong resistance at the 1.4190 but I think they will try and take our the psychological number at 1.4200. is the 1.4014.  Expect a correction here and some squaring up.

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$EURUSD Breakout UPDATE-

Eurusd has come up to the to the down Trendline and broken through. The initial target for the breakout is the 1.4014.  

Expect a correction here and some squaring up as we head out in the new direction.  The Pullback could extend back to the

1.3925 area before pushing again northward to the 1.270 fibo extension at 1.4052.  After that the further targets are the

1.4067 and 1.4100 area.

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$EURUSD -

Eurusd has come up to the to the Trendline and broken through. A false breakout might hold @ 1.3915 whwew we have a .618 fib and resistance.  
A break of that line however, gives credence to the 1.4007 targe.If this is not a breakout and comes back in line then look for a move to the
1.3782 inititally and then 1.3726.  We do not have divergence on the cross for the up move - doesn't mean anything except that we do not have that
confirmation.

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$EURUSD -


Eurusd has come down to the Neckine and broken through.  Looking for a target at 1.3699 if it can continue the downward momentum.  The 1.3782 is a barrier but if brokes should see the move to the 1.3699 support and the eventual targets of 1.3575-48 are ( 0.382 Fibo and the S6)

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$EURUSD -

Eurusd has come down to the trendline as suggested yesterday at 1.3840 and bounced here.  As long as we stay above the 1.3827 area it is bullish for the
cross.  We have  which was also strong resistance at the 1.4100 area which would also be a double top which is the next target.  We have seen an attempt to break .1.4158 to the upside and so far it has failed. The 4.236 Fibo has been taken out however, which leaves a strong possibility for one more push to the top and then

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