The following are the latest technical setups for EUR/USD, USD/JPY, USD/CHF, GBP/USD, and USD/CAD as provided by the technical strategy team at Barclays Capital.
EUR/USD: We are bearish and would use upticks towards 1.0765 as an opportunity to sell at better levels. Our targets are near 1.0520 and then the 1.0460 year-to-date lows.
USD/JPY: Monday’s small topping candle signals a breather within the context of the overall rising trend. We would look to buy dips towards 122.20 for a move higher through 123.75 towards our targets near the 125.30/125.85 highs.
GBP/USD: Our bearish view was encouraged by the close below 1.5155. Our initial targets are near the 1.5025 November lows. Below 1.5025 would open our next targets in the 1.4860 area.
USD/CHF: Monday’s “shooting star” topping candle provides an opportunity to buy at better levels towards 1.0120. We expect the in the 1.0090 area to underpin a move higher towards initial upside targets near 1.0240. A break above there would signal further gains towards our next targets near 1.0300.
USD/CAD: A small topping candle on Monday points to an interim pause within the overall bullish trend. We would look for signs of a base near 1.3245 and return to the 1.3460 highs. Above opens our next targets in the 1.3535 area. Our greater targets are near 1.4000.
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