Technical Technical Technical

Technical Update - EURCHF , EURGBP, EURJPY and EURUSD

Forex 3 minutes to read
KCL
Kim Cramer Larsson

Technical Analyst, Saxo Bank

Summary:  Will EURCHF drop to par ? EURGBP uptrend with strong resistance. EURJPY uptrend resumes. EURUSD range bound


EURCHF closed below the rising trend AND key support at 1.0230. RSI below 40 indicating lower levels are to be expected. A break below 1.0090 EURCHF and is likely to test 1.01

Source: Saxo Group

EURGBP broke bullish out of triangle like pattern only to be hammered back down from resistance at 0.8720. Bouncing off lower rising trend line EURCHF might have another go at the resistance.

The weekly chart confirms the pair to be in an uptrend with strong overhead resistance. Weekly RSI has not yet confirmed the bullish scenario. It needs to close the week above 60

Source: Saxo Group

EURJPY seems to be trading in a wide rising channel picking up the trend after last weeks correction. A test of 145 is likely. A break below 137.80 will demolish the bullish scenario

Source: Saxo Group
Source: Saxo Group
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