- During the Asian session this morning, the EURGBP retreated from the 0.84300 level.
- EURCHF is in a slight bullish consolidation for the third consecutive day.
EURGBP Chart Analysis
During the Asian session this morning, the EURGBP pulled back from the 0.84300 level. In the EU session, we saw a drop below the 200 EMA moving average to 0.84135. The Euro is under pressure to continue its pullback unless it moves back above the 200 EMA moving average soon. The bearish momentum prevails today and we could see a continuation of the bearish side in the American session.
The lower potential targets are the 0.84100 and 0.84000 levels. With the return above the 200-day EMA, we are still under pressure below the 0.84300 resistance zone. If we manage to overcome it, the chances of seeing growth towards the bullish side increase. The higher potential targets are the 0.84350 and 0.84400 levels. We would still be far from the July high there, but we were on our way towards it.
EURCHF Chart Analysis
EURCHF is in a slight bullish consolidation for the third day in a row. During the Asian session this morning, the pair was under pressure around the 0.96750 level. After that, we saw a decline to the 0.96564 level and the formation of a daily low. Soon after, the pair managed to hold there and recover to the 0.96700 level. We need a push above the 0.96750 level to get back on the positive side above the weekly opening price.
Possible upper targets are the levels of 0.96900 and 0.97000. For a bearish option, EURCHF would have to drop to the level of 0.96500. We are very close to testing last week's low. After that, we can expect an increase in bearish momentum and the creation of a new low. Possible lower targets are the levels of 0.96400 and 0.96300.
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