EURUSD coming off at early European session retracing all of the gains made this week and is currently trading at weekly lows. A break below the monthly lows at 1.3503 could accelerate declines further. The preferred strategy is taking shorts at strength as long as the pair is below he daily highs at 1.3603.
USDJPY retracing all of the week’s declines and is currently trading at weekly highs. Preferred strategy is talking shorts at strength as long as the pair is below 97.87. Only a daily close above these levels would shift bias to flat and require reassessment of latest price action.
USDCHF Posting a new weekly and a monthly high as well, the pair has managed to trade above last week’s yearly lows. A daily close above 0.9140 would ease the downside pressure and may lead a bigger retracement. A break below today’s low would resume the downside pressure and target towards the yearly lows posted last week and even below.