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Price Signal Summary - EURUSD Bears Remain In The Drivers Seat

OUTLOOK
  • EURUSD remains vulnerable despite yesterday’s gains. The break lower this week, confirms a resumption of the primary downtrend - reinforced too by last week’s breach of 0.9864, the Sep 6 low. The move lower maintains the bearish price sequence of lower lows and lower highs. Price is also trending down inside a bear channel drawn from the Feb 10 high. The channel base intersects at 0.9495.
  • Bearish trend conditions in GBPUSD remain intact. An important short-term support has been defined at 1.0350, Monday’s low. The trend is down and a break of this support would confirm a resumption of bearish activity. Monday’s close also highlights an important candle pattern - a hammer and potential reversal signal. A break above Monday’s 1.0931 high is required to strengthen this signal and highlight a short-term base.
  • USDJPY is holding on to the recovery from 140.36, the Sep 22 low and a key short-term support, where a break is required to highlight a top and the potential for a deeper retracement. The uptrend remains intact and attention is on the bull trigger at 145.90, the Sep 22 high. A break would confirm a resumption of the uptrend and open 146.03, 2.764 projection of the Aug 2 - 8 - 11 price swing.
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Metals bulletForeign Exchange Technical AnalysisHomepagemarkets-real-timeCommoditiesEquitiesEnergy BulletsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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