EUR/USD: We are bullish. Friday’s up-day endorses the prior base candle and signals higher in range towards initial targets near 1.1420. A move above would point higher towards the 1.1505 area.
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USD/JPY: Thursday’s sell-off through the May lows has encouraged us to resume our overall bearish view towards support near 102.10 and our targets towards 100.70.
GBP/USD: We have turned bullish. Thursday’s “hammer” candle was endorsed by Friday’s high close and signals room above initial targets near 1.4685. A move above there would point towards the 1.4770 range highs.
AUD/USD: We are bullish against support in the 0.7285 area and look for a break above initial targets near 0.7505 to signal higher in range towards 0.7570 and then the 0.7790/0.7720 area before sellers emerge.
NZD/USD: We are bullish towards initial targets in the 0.7150 area and look for a break above there to open greater targets near 0.7235. From there we would look for signs of a top and move lower toward 0.6890 and then 0.6675.
USD/CAD: Thursday’s topping candle was endorsed by Friday’s bearish engulfing candle and encouraged our bearish view. Our initial targets are towards 1.2655 and then lower toward the 1.2460 lows.