The Risk Today:
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EurUsd EUR/USD's rebound was limited at 1.2991 and retreated sharply. An intraday top is in place and some sideway trading could possibly be seen. But after all, with 1.2512 low intact, another rise is still expected. As discussed before, decline from 1.4719 should have completed with five waves down to 1.2512 and made a short term bottom there.

GbpUsd An intraday top might be in place in GBP.USD at 1.4660 and some sideway trading could now be seen. But after all, further rise is expected as long as 1.4051 support holds. Above 1.4660 will bring rally resumption to 1.4984 resistance first and break will then target 1.5722 key medium term resistance. On the downside, break of 1.4051 is needed to indicate that rise from 1.3053 has completed or otherwise, another rise is still in favor.

UsdJpy USD/JPY's rally is still in progress and reaches as high as 95.32 today so far. At this point, intraday bias remains on the upside as long as 94.11 minor support holds. Further rally could now be seen towards 38.2% retracement of 110.65 to 87.12 at 96.10.

UsdChf USD/CHF's recovery from 1.1459 was limited at 1.1712 and retreats again in early European session today. As mentioned before, rise from 1.0366 should have completed a five wave structure, ended with a diagonal triangle and a short term top is formed at 1.1883.