EUR/CHF Technical Analysis
The Euro has risen against the Swiss Franc during the trading session early on Thursday, as we continue to see a lot of consolidation. The 200-day EMA sits just above current levels and just below the recent barrier at 0.9265. Short-term pullbacks I think continue to be buying opportunities with the 0.92 level as a floor.
All things being equal, this is a currency pair that I think is going to move with risk appetite, as the Swiss Franc, of course, is a safe currency. With this, I like the idea that you buy dips, and you get paid at the end of every day because of the interest rate differential.
EUR/JPY Technical Analysis
The Euro has pulled back slightly against the Japanese Yen, but it is flagging. It looks a lot like a market that is trying to eventually go much higher. The 188 Yen level seems to be a bit of a barrier. If we can get above there, then I think we can truly take off. 190 Yen would be my next target. 185 Yen at this point is your absolute floor, and again, it’s a positive swap as well, so that certainly helps.
EUR/GBP Technical Analysis
The Euro has been somewhat choppy against the British Pound as we’re sitting just above the 50-day EMA. It looks like the market is just hanging around the 0.87 level. This is a pretty quiet market most of the time anyway, so this is not a huge surprise.
To the upside, I see the 0.8750 level as a bit of a barrier. Underneath, we have the 200-day EMA at 0.8668 as support, followed by 0.86. We have been range-bound for a while. I suspect we will probably stay in a range overall.
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