EUR/USD: I feel the EUR/USD has most certainly bottomed. I will be a bit surprised if last week's low of 1.4193 is broken. However, this can’t be ruled out as GBP might fall once again and consequently it might pull down the EUR/USD a bit. If today the low is not broken, then the bottom is confirmed. From here the euro would move to the following targets:
1st Target – 1.4583
2nd Target – 1.4852
USD/CHF: This might rise to make a high of 1.1220.
The targets are:
1st Target – 1.0930
2nd Target – 1.0750
GBP/USD: This is more difficult to predict, due to cross-trading activity. However, for now carry trade activity seems to have stopped. The GBP might try the low once again to make a bottom of 1.7480, however I doubt this. It's better to be cautious. Targets would depend on where the bottom is, but taking the current bottom of 1.7533, the targets are as follows:
1st Target – 1.8362
2nd Target – 1.8925
USD/JPY: it seems to have already topped, but due to cross activity it is difficult to predict. It might rise to 109.50.
