EUR/USD
EUR/USD should clearly break below last Thursday’s low of 1.3385, which has come under pressure, and target the January low of 1.2860, with steps at 1.3245 and 1.3050.
EUR/JPY
The lower end of the tentative declining channel, which comes at 101.70 today, should be the main step on the way to the June 2001 low of 99.85.
USD/JPY
USD/JPY should eventually break below the mid-August low of 75.95 and target the lower end of the tentative declining channel, which comes at 73.05 this week (-0.30/week).
GBP/USD
The 1.5780 pullback level, or even 1.5630, should cap the upside and force the cross to point back to 1.5295/1.5345.
USD/CAD
Following the break above the 1.0290/1.0300 resistance area, the USD/CAD should extend the recovery started at 0.9410 in late July to the 1.0805/55 resistance area.
Societe Generale
Research & Analytics