FxWirePro: Short term trends, key supports/resistances and trend changing levels of euro based pairs

In this article, we would discuss short-term trends, key support resistances, and the key trend (short-term) changing levels of the euro-based pairs based on one of our models. We expect these sets of information to come in handy to our readers,

• EUR/USD –

The EUR/USD is in a short term bull trend since it formed the last bottom around 1.05 area. The euro has broken above the key resistance around 1.08 area, however, no testing support around 1.075 area. This is a key short-term support level. Three resistances lie ahead at 1.087, 1.097, and at 1.114. The short term bull trend would change if euro dips below 1.07. The pair is currently trading at 1.076

• EUR/GBP –

This pair just entered a short-term bear trend as it dipped below 0.865. Key resistance lies around 0.877 area. It is also the trend changing level. Next support for the pair is around 0.842 and the most vital lies around 0.835 area. The pair is currently trading at 0.866

• EUR/JPY –

This pair just entered a short-term bear trend as it broke below 120. Key resistance for the pair lies at 122.6 area. It is also the trend changing level. Next major resistance is around 123.3, The support lies at 118.2, a break of which could lead to larger decline. The pair is currently trading at 119.4

• EUR/AUD –

This pair has just entered a short-term bull trend as it cleared 1.415. It is now going through a correction. Key support lies around 1.387. It is also the trend changing level. The next support lies around 1.37. The resistances are quite far away; first one at 1.44 and the next one at 1.46 area. The pair is currently trading at 1.404

• EUR/NZD –

This pair is in a bull trend as it cleared 1.473 area. It has also cleared a crucial resistance around 1.525. The next resistances lay around 1.567 and at 1.576 area. The support is around 1.52. It is also the trend changing level. The pair is currently trading around 1.531

• EUR/CAD –

This pair is in a bull trend as it cleared 1.4 area. It has also cleared a crucial resistance around 1.426. The next resistance lies around 1.5 area. The support is around 1.42. It is also the trend changing level. The pair is currently trading around 1.432

Kindly note, due to heavy distortion in the franc during January 2015, this model can’t reliably predict right levels, hence we are avoiding all franc based pairs for this model.