EURNZD broke above the 7-month resistance trend line and is now concentrating at 2.0750. The yen cross has fallen sharply from recent highs, and the broad bullish figure is in question.
Euro / British Pound
EURGBP has dropped below 0.8985, but the drop may still be the 4th correction wave (I still prefer the 5th wave at 0.9416 and probably 0.9807). Layers that can provide additional support are wave 3 50% rollback at 0.8934 and maximum wave i 3 at 0.8843. A fall below 0.8703 will indicate that the overall trend is likely to decline.
euro / Swiss franc
“Technically there’s nothing to talk about EURCHF and the pair won’t be there until they get out of the triangle. The battle between the bulls and the bears continues in a triangle that has been going on since October. Triangles are usually continuous. Prediction is a practice of probability, not certainty, so go at your own risk. A break in the triangle line above or below leads to a breakthrough. The number of triangles shown above is bearish, but a bullish outcome is also possible. Wave A will be A and wave B will be a triangle.
Euro / Canadian Dollar
From January 2008, head and shoulders roll up. The left shoulder was heavy with 2 shoulders. H&S patterns remain symmetrical, and last week I suggested that EURCAD would jump to 1.6330 to create another right shoulder. This scenario remains valid.
Euro / Australian Dollar
Last week, we looked at short-term price action and concluded that moving above 1.6310 will break a series of lows, at least in the short term. This will be the first sign of this. EURAUD has really broken higher, and now the buying strategy is lower. It then supports 1.6240.
Euro / New Zealand Dollar
The latest update was that EURNZD has resumed a downward line that stretches from a low on June 22 to a low on August 14 (the line crossed 3 days this month). RSI failed to secure a downtrend, leaving the downtrend technically weak. And threatened to retreat. Today, EURNZD broke above the multi-month resistance line, confirming the reversal. Try to buy deep support at 2.0240, 2.0110 and then 2.0000.
Euro / Japanese Yen
Despite significant falls in such a short period of time, the focus is still on the larger triangle. The next possible support level is just above 132. It is possible that the last part of the rise from 129 will see this pair after a while and this action is due to the spring distribution. Whichever way EURJPY decides to come out next week / month, this move should be enough.
British Pound / Japanese Yen
The big picture depends on how the price model is interpreted in the circular area. Protruding it from the triangle and wave 5 means that the alignment of wave 5 139.68 is wave A of the rollback ABC. Given the circular region as waves A and B of the long plane, 5 denotes the assembly wave C and adjusting the end of the assembly. The total amount is unclear, but the support of 147.05 (both structural and 100% expansion from 153.30-149.13. 149.60 / 80 is resistance.
Swiss Franc / Japanese Yen
CHFJPY beat the 2009 high (only) 91.56. This fact should not be ignored as EURJPY failed to break the maximum of 139.17. This leads to potential unconfirmation and a potentially large reversal downward. At this point, of course, nothing has been confirmed. 87.20 Potential support.
Canadian Dollar / Japanese Yen
Not sure of this movement since early June, but the triangle (e.g. EURJPY but lagging) may turn. The pair hit the congestion zone defined by 83 and 84.30. Expect support below the limit.
Australian Dollar / Japanese Yen
Not sure of this movement since early June, but the triangle (e.g. EURJPY but lagging) may turn. The pair hit the congestion zone defined by 83 and 84.30. Expect support below the limit.
New Zealand Dollar / Japanese Yen
NZDJPY has turned away from the line drawn from January, April and June highs, and is now testing channel support / minimum content and 50-day SMA. The battle line is drawn. Expect resistance at 66.60, 67.10, 67.60 and 68.05.
Jamie Settle
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