1. EURJPY
2. EURCHF
3. EURGBP
EURJPY Little is changed as the EURJPY remains range bound between 150.71 and 147.54. The month long range is
either a consolidation before another push higher or a distribution before a reversal lower. Momentum divergence at
each high since March favors the latter. A break above 150.71 targets the 161.8% of 140.89-124.12 at 151.23. A
break below 147.54 exposes the 7/31 low at 145.71.
EURCHF The EURCHF has dipped below a short term trendline following bearish divergence at Thursdays high
(1.5913). Daily oscillators appear to be rolling over as well. A push above 1.5913 exposes the 9/15 high at
1.5965. A break below the 10/5 low at 1.5859 exposes the 10/2 low at 1.5823. The 10 day SMA is below the 20 day
SMA as well.
EURGBP EURGBP corrected the previous weeks rally and bottomed at .6710 last week. 240 minute oscillators remain
bullish and favor a continuation of the rally from the bottom of the 2 year and 3 month triangle. Positive MACD
slope on the daily and RSI above 50 support the bullish bias. The 10 day SMA is crossing above the 20 day SMA
today. .6710 is support and needs to hold in order to keep bullish prospects intact. The pair is right at a 3
month declining trendline from .6958. A daily close above would be bullish.
