The bullish trend intensity signal for USD/JPY has advanced to 28 and the overnight gains to 120.87, the highest since Dec 2005, should keep the bullish trend advancing. The EUR/USD bearish trend signal remains stalled for the fourth session at 20 with central bank buying preventing a push lower in the EUR with growing risk that the bearish trend signal could fail.
The USD/CHF bullish trend signal advanced to 25. The GBP/USD trend signal is neutral at 16. The EUR/JPY trend signal is neutral at 24 and continues to consolidate, easing one notch yesterday. The EUR/GBP trend signal remains strongly bearish, advancing another two notches to 18. These proprietary indicators are updated each trading day after the NY close.
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