putting in a Piercing Pattern. First minor
resistance stands at 1,2560 level. Major resistance
is the confluence of Monthly (yet untraded),
the Kijun line and horizontal resistance along with the
50% fib of latest leg down around 1,2620. Above that
is the 38,2 fib that stands close to lower Kumo Cloud
(at the beginning of the week) just below 1,27.
I think chances are good that at least the 1,2560 level
will be traded before any serious downward action .
UsdChf is at strong resistance and showing signs of
bouncing lower, thus supporting some relief in
pressure in EurUsd , at least for some time ahead.
However, if UsdChf makes a monthly close
above the critical 0,9680 level this may hint continuation
down in EurUsd (taking into account their high inverted