TriumphFX – Forex Analysis – EUR Pairs – July, August & September 2021


Previous analysis… https://analysis.tfxi.com/2021/04/01/triumphfx-forex-analysis-eur-pairs-april-may-june-2021/

EURCHF – Daily Chart

EURCHF Daily Chart

The EURCHF has been bearish.

Price has been down-trending within a bearish channel and has recently broken below the channel support area. The daily moving averages are becoming bearish, suggesting that the downtrend may continue. The EURCHF is nearing key support levels, which could mark the end of the current downtrend. The RSI is signalling an oversold market, signalling a potential bullish move.

Opportunities to go short could exist around the previous support and resistance areas of the bearish channel, around the dynamic resistance of the moving averages and around any of the horizontal levels at 1.0870, 1.0970, 1.1000, 1.1050 and 1.1120. A bearish move may stall or reverse around the key horizontal support levels at 1.0735 and 1.0670.

EURGBP – Daily Chart

EURGBP Daily Chart

As suggested in our last chart analysis, the EURGBP has been bearish.

Price was down-trending but is currently moving within a range. The daily moving averages confirm the market indecision – they are starting to tighten and move sideways, The EURGBP is ranging between 0.8490 and 0.8720.

Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). If the EURGBP breaks to the downside, the downtrend could continue. If price breaks to the upside, the EURGBP could find resistance around 0.8875 and 0.9140.

EURJPY – Daily Chart

EURJPY Daily Chart

Price has been bullish, as suggested in our last EUR chart analysis.

EURJPY is up-trending and is currently in a strong retrace move. Price action has formed a number of resistance levels and price is below the moving averages, all signalling that price may struggle to swing higher. The moving averages confirm this – they are no longer bullish but are moving sideways – signalling market indecision.

Opportunities to go long could exist around the longer-term moving average and around the horizontal levels 128.45, 127.35, 125.05 and 121.75. A bullish move may be rejected or reverse around the moving averages and around the horizontal levels at 130.50, 132.45 and 133.95.

EURUSD – Daily Chart

EURUSD Daily Chart

As suggested in our last EUR analysis, EURUSD has been indecisive.

Price has been moving sideways. The moving averages confirm the market indecision – they are tight and moving sideways.

Trading opportunities may exist around the moving averages and around any of the horizontal levels at 1.1615, 1.1720, 1.1945, 1.2245 and 1.2335.

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