Euro is suffering steep selloff just ahead of European session. In particular, EUR/USD’s break of 1.1507 support confirms medium term down trend resumption. The pair should be targeting 1.1186 fibonacci level next.
EUR/CHF is on course for 1.1366 support. Based on current momentum, the medium term correction from 1.2004 should be resuming for 1.1198 key support level before bottoming.
EUR/GBP also suffers steep pull back after failing 0.9043 fibonacci level. But for the cross, outlook stays bullish as long as 0.8854 support holds.
EUR/JPY’s break of 127.13 support confirms our view that corrective rise from 124.61 has completed with three waves up to 131.97 already. The larger fall from 137.49 could already be resuming.