Today’s FX Thoughts  -  JULY 23rd                                                                                                                                    

Today I am Highlighting EUR/USD:

EUR/USD still has lower (unsatisfied) Classical Charting & Elliott Wave Targets. The Classical “Head & Shoulders” Target lies at 1.2070, whilst the Elliott Wave Target lies at 1.1985/1.1970.

The Euro now has resistance at 1.2150/1.2180 and this probably contains, extending EUR/USD’s Downtrend to further new lows for the year.

I am now Selling the Euro (and adding to my position on any recovery to 1.2150/1.2180) with a Stop Loss above 1.2200, initially, for sell-off toward 1.2075 (enroute to 1.2000/1.1970).

This analysis, together with JPY, CHF, GBP, AUD and NZD, will be updated in my FX forecasting service, emailed each day to my subscribers (as it has been for the last 15 years). If you would like a 3 week trial of the daily service email me TRL@clear.net.nz

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damage that may result, directly or indirectly, from any forecast, comment or opinion, information or omission, whether negligent or otherwise, within this report.