Euro made another drop to 1.2765 early yesterday but recovered all the losses and more by the end of the day.By respecting the channel support Euro has improved its odds for a rise through 1.2980.Currently a minor pullback from the day’s high of 1.2903 appears to be ending so Euro should extend its rise through the recent 1.2910 high.But it will not be sustained on this occasion.Allow another drop back to 1.2860 before Euro rises again to challenge 1.2980 and extend the rally towards 1.3050 and possibly 1.3125.A drop through 1.2820 would be disappointing but only a break of 1.2760 will confirm that the rally is over.
Sterling rose strongly off 1.8970 yesterday and should now make a new high.But channel resistance around 1.9150 will limit the rise and Sterling should drop back towards 1.9000 again.
Dollar/Swiss made an early rise to 1.2330 yesterday but gave up all these gains by the end of the day.The drop should extend into the 1.2150/90 range to complete the current downward sequence.
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