Taken from www.charmercharts.com

EUR/USD:

Euros made it through 1.3245/3250 and on to 1.3273/84 which was the next target and this held the upside.

We have managed to push through here today and we can go on to challenge the recent highs in Feb of
1.3322. The market is starting to look a little over bought in the short term so take profits here with a
good chance we cannot make it any higher today. The 21 week Moving Average and previous high is at
1.3321 plus 100 day MA at 1.3312 and it is worth attempting shorts here in this longer term down trend.
Stops above 1.3360 for a test of 1.3408.

Look for support at 1.3245/50 but below here keeps the market under pressure for 1.3148 and possibly
1.3115/00. Any shorts here need to be covered with the chance of a good bounce. If attempting longs here
we need to place stop losses below 1.3085 as this could lead to a test of support at 1.3056.

GBP/USD:

Cable pushed through 1.5820 resistance and reached the next target at 1.5880 to 1.5910.

Cover all longs to here. If we then manage to push through 1.5910 we should see 1.5940/50
achieved but this should be the top for this move higher and we would expect some strong
selling pressure here. Only a break above the 55 weeks moving average at 1.6012 then
opens the door for further gains to 1.6096/6110.

Support seen at 1.5830/20 for a buying opportunity. However stops needed below 1.5780 as
below here we would look for a move back to the 1.5725/1.5700 support area and we would
then cover shorts and attempt longs. Any longs to here are to be abandoned if we break
1.5690. Then we see 1.5640 as the short term target.