1. EURJPY
2. EURCHF
3. EURGBP
EURJPY As we remarked last week, A push above 148.58 negates the bearish bias. With the break above, the next significant resistance level is at the 161.8% fibo of 140.91-124.14 at 151.24. Still, bearish divergence with MACD on the daily limits upside potential. Immediate support is at the former resistance level from the 8/16-8/18 highs at 148.86/92. A dip below there encounters the 8/18 low at 148.10. Hourly conditions are overbought and favor weakness/consolidation in the near term.
EURCHF EURCHF has made a double top with the 4/27 high at 1.5821. The pair has traded in a range from 1.5827 to 1.5757 since 8/11. The pair is currently testing the low side of that range. A break below 1.5757 would probe a trendline from the 5/18 low at 1.5448. The trendline is currently at 1.5668 and increases about 4 pips per day. Intraday resistance is just above at 1.5794.
EURGBP EURGBP has rallied to a congestion area (.6807-.6843) but failed to push through. However the pair is holding above a supporting trendline from the 8/15 low at .6728. The trendline is at the psychological .6800 figure. With the long term triangle support at the 8/8 low at .6718 the bias is bullish and this setback is viewed as a correction. A break below the aforementioned trendline probes the 38.2% fibo of .6718-.6827 at .6785.
