1. EURJPY
2. EURCHF
3. EURGBP
EURJPY The EURJPY broke above the former double top from the 8/31 and 10/27 highs at 150.71 and 150.73. The break above the ascending triangle places support at former resistance (150.71/73). Resistance going forward is at the 138.2% and 161.8% fibos of 150.71-147.54 at 151.92 and 152.62. Fridays inside day suggests reversal potential. A break below 150.71/73 would begin to hint that the break higher was a false signal.
EURCHF The EURCHF looks like it is rolling over. Bulls were able to push the pair to a new high on 11/7 at 1.5981 (above the 9/15 high at 1.5965). However, that high was accompanied by bearish divergence, which indicates that the uptrend was/is losing steam. The line to watch though is the 6 month supporting trendline, which is at 1.5870 today and increases about 3 pips per day. A break below there would suggest additional bearish potential. The 11/7 high at 1.5981 is now critical resistance.
EURGBP The EURGBP is heading higher from long term triangle support. The bullish case against the 10/31 low at .6668 is reinforced by the break above the short term resistance line drawn off of the 9/11 and 9/29 highs at .6818 and .6790. The path is now towards the top of the nearly 4 year triangle to test .6900. The decline since 9/11 has been especially choppy, which suggests that a rally could occur at an accelerated pace. Short term setbacks should find bids near the 11/10 low at .6713.
