EUR crosses/EUR/USD

EUR looks like it could retrace somewhat on the crosses

  • EUR/GBP has failed on 4 separate occasions above .8590 and looks susceptible to a sharp drop towards .8430.
  • EUR/AUD has finally stalled its vertical rise near 1.3600 and could settle into consolidation mode.
  • EUR/JPY needs to break below 129.10 in my opinion before bearish momentum really accelerates but the short-term trend is bearish.
  • EUR/CHF briefly broke below market support at 1.2370 but hasn’t sustained these losses.

If this EUR sentiment continues then we might see the EUR/USD drift back toward range lows near 1.2900.

 

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