Commerzbank on EUR/USD - EUR/GBP - EUR/JPY
"EUR/USD has closed below the 2011 uptrend at 1.3220. Ideally we would like to see some follow through today and break below the 1.3145 October low, technical indicators are all negative and the market is under pressure.
EUR/GBP has sold further, eroding the base of its 4 month down channel. We look for losses to extend to the .8389 2008-2011 support line. The market has recently seen a weekly close below its 200 week moving average for the first time in 4 years and weekly technical indicators are negative.
EUR/JPY has eroded the 2 month support line at 102.99 and attention has reverted to the 102.49 November low, which is now exposed. This guards the 100.77 October low and the 100.00 2009-2011 support line."
EUR/GBP has sold further, eroding the base of its 4 month down channel. We look for losses to extend to the .8389 2008-2011 support line. The market has recently seen a weekly close below its 200 week moving average for the first time in 4 years and weekly technical indicators are negative.
EUR/JPY has eroded the 2 month support line at 102.99 and attention has reverted to the 102.49 November low, which is now exposed. This guards the 100.77 October low and the 100.00 2009-2011 support line."
Source: fxstreet.com
