EUR/USD: Lack of upside follow through and the subsequent “spinning top” candle has prompted us to pare our short-term bullish view.
Copy signals, Trade and Earn $ on Forex4you - https://www.share4you.com/en/?affid=0fd9105
A low close today would endorse the top and reduce risk of a squeeze higher towards the 1.1420/50 area. Overall, we are bearish against 1.1620.
USD/JPY: We are sticking with our overall bearish view and would prefer to fade upticks towards 108.90. A move below 106.35 would signal lower towards 105.50 and then our targets are in the 105.35/105.20 area. Further out, we see room towards 100.70.
GBP/USD: We are bearish and look for a move below the 1.4330 area to signal a double-top under the 1.4770 highs. Our initial targets are towards the 1.4090 area. A move below there would signal downside towards 1.4005.
AUD/USD: Short-term risk is a squeeze higher in range towards the 0.7490 area. We are neutral and look for signs of a top as daily studies are becoming stretched.
NZD/USD: We are neutral. Overall, we prefer to sell upticks against the 0.7055 range highs. Our downside targets are towards 0.6675 and then 0.6545.
USD/CAD: The break below support near 1.2910 signals a larger top under 1.3190 and room lower towards our targets near 1.2675.