CMC Markets. EURUSD – the euro continues to track lower closing in on levels last seen last September at 1.3105. A break below these lows then brings the 1.3020 level into view. This remains a key support being that it is a 50% retracement of the move from the 2012 lows at 1.2042 to the 1.3993 highs earlier this year. On the upside the euro needs to push back through the 1.3230 level and fill the gap from 22nd August to stabilise.
Análisis Técnico
GBPUSD – the failure to push beyond 1.6640 this week has seen the pound break lower through 1.6520 and we now look set for a move towards 1.6460 and the lows in March initially. A break through here has the potential to target the lows this year at 1.6250. Trend line resistance from the July highs comes in at 1.6620.
EURGBP - the euro appears to be holding above the July lows at 0.7875 for now and this remains the main obstacle to a move towards the 0.7785 level, and July 2012 lows. We could still see a move back towards the 0.8000 level in the short term, but overall the trend remains lower, while below 0.8000 trend line resistance from the August highs.
USDJPY - the US dollar continues to close in on the highs this year at 105.50/60. While above the 103.50 area the risk remains for a move towards 105.50. This remains a huge level given it was the recent high from the end of last year, as well as the 61.8% Fibonacci retracement of the decline from the 2007 highs at 124.13 to the lows 75.58 in 2011.