EUR/USD
Momentum is still clearly pro-growth and indicators are not overbought, so main technical scenario is same as week ago: successful testing of 1.327 level and continuation of trend to 1.3488 level. Rebound and return to psychological 1.30 level is still possible, albeit less likely than breakthrough. MACD is showing some loss of upward dynamics, so likelihood of rebound may increase with time.
EUR/JPY
MACD remains pro-growth, but also shows weaker upward momentum. Other indicators are neutral. Neutrality of indicators suggests continuation of consolidation as most likely technical scenario. Rebound from moving averages and 129 level and further growth currently seem somewhat less likely than week ago.
Read the full report: Technical Research
Erste