{"id":4976,"date":"2017-10-23T16:31:25","date_gmt":"2017-10-23T16:31:25","guid":{"rendered":"http:\/\/blog-sg.forexanalytix.com\/?p=4976"},"modified":"2017-10-23T16:31:25","modified_gmt":"2017-10-23T16:31:25","slug":"eur-pairs-heavy-resistance","status":"publish","type":"post","link":"https:\/\/www.forexanalytix.com\/blog\/eur-pairs-heavy-resistance\/","title":{"rendered":"EUR Pairs Heavy or at Resistance"},"content":{"rendered":"

A Technical view of the market with the use of Harmonics Analysis<\/h3>
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Ahead of Thursday’s ECB meeting and with a crisis brewing in Spanish Catalonia the EUR is trading heavy or at significant resistance in some crosses which are worth watching for bearish reversals.\u00a0<\/p>\n

EURUSD\u00a0failed at the 50% retrace of the decline from the September high and is looking for another leg lower.\u00a0 1.1668 is major support and a break below targets 1.1482 and potentially but less likely 1.13.<\/p>\n

EURCHF is at important daily Fibonacci resistance. The 1.618 of the 2016 high to low correction and where the rally from the February 2017 low is 0.618 of the sharp rally from the 2015 lows which is very common in corrections. Watching for a bearish reversal and pullback at 1.1550-1.16 zone.\u00a0EURGBP has failed again at the 50% retrace of the decline from the\u00a0August highs. Holding above 0.8743 keeps the bigger uptrend intact and this level is about to be retested.<\/p>\n

EURAUD is testing the top of a long term parallel channel and after a false break higher on 11 October the path of least resistance is likely lower and below 1.4927 is a bearish trigger and targets a return to the July lows next at 1.4416 and the 200 day MA.
\nEURNZD has reached\u00a0harmonic pattern resistance at 1.6825-1.6937 and we are watching for a bearish reversal.\u00a0 A daily close above 1.70 would be bullish continuation and next target is 1.7208 and 1.7365.<\/p>\n<\/div><\/section>
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\t\tEURUSD Daily<\/span><\/span><\/a>
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Nicola Duke<\/p>\n<\/div><\/section><\/p><\/div>