Currency - January 24, 2018

Cerundolo Investment Research

Currency Update

Volume 2, Issue 2
January 24, 2018

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Items of Interest:

In our January 2nd Technical Tuesday report we highlighted the U.S. Dollar “has broken support and headed for 90”. We also highlighted that fact that “the MFU-4 target comes into play once we see a weekly close below 90”. This target is 85 and a strong possibility if we get the weekly close this week.
In that report we also highlighted the “odds are that the Euro will push above the 1.21 area” which opens the upside to 1.25. We are close to that zone now but there is potential for further strength.
The dollar yen has broken down from its multi-month trading range.
The Renminbi has achieved its initial downside target and now on pace for another leg lower.