EUR/GBP: Bullish flag pattern

EUR/CHF

Buying pressures increase.

  • EUR/CHF's bullish pressures increase. The medium-term pattern suggests us to see continued bearish pressures towards key support that can be found at 1.0623 (24/06/2016 low). Yet, the pair is facing stronger short-term bullish pressures.

  • In the longer term, the technical structure is mixed. Resistance can be found at 1.1200 (04/02/2015 high). Yet,the ECB's QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).

EURCHF

 

EUR/JPY

Temporary surge.

  • EUR/JPY rejection at 122.88 has triggered a correction. Yet, the pair is very volatile. Supports stand at 120.55 (17/01/2017 low) and 120.02 (08/03/2017 low). Resistance stands at 122.88 (13/03/0217 high).

  • In the longer term, the technical structure validates a medium-term succession of lower highs and lower lows. As a result, the resistance at 149.78 (08/12/2014 high) has likely marked the end of the rise that started in July 2012. Strong support at 94.12 (24/07/2012 low) looks nonetheless far away.

EURJPY

 

EUR/GBP

Bullish flag pattern.

  • EUR/GBP is correcting lower yet formation of bullish flag suggest reversal of current weakness targeting 0.9000. Key resistance is given at 0.8854 (15/01/2017 high). Support is located at 0.864505/02/2017).

  • In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading above from its 200 DMA. Strong resistance can be found at 0.9500 psychological level.

EURGBP

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