1. EUR/AUD
2. EUR/CAD

EUR/AUD - Euro bulls retaliated against the Australian dollar positions with a vengeance that only the battered currency can posses and as they pushed the cross against the 1.6045, a level marked by the 23.6 Fib of the 1.7712-1.5532 AUD rally. As the price action temporarily stalls and euro longs consolidate their gains, a further break of the Australian dollar defenses will most likely see the cross head higher toward the 1.6129, a defensive position established by the Australian dollar bulls during the August 25 daily low. A sustained momentum to the upside will most likely see the euro bulls overrun Australian dollar positions and push the cross toward the 1.6294, August 9 daily low. Indicators signal trendless market conditions with ADX below 25, while MACD is sloping upward toward the zero line and momentum indicator is treading above the zero line. Oscillators remain in a neutral territory thus giving the euro bulls plenty of room to maneuver.

Key Levels & Technical Indicators

EUR/CAD - Euro longs launched a decisive counterattack against the unsuspecting Canadian dollar longs and pushed the cross back above the psychologically important 1.4000 figure. A further move to the upside will most likely see the euro bulls push their way toward the 4647, a level marked by the 50-day SMA, and with sustained momentum taking on the Loonie offers around 1.4773, a level marked by the 50.0 Fib of the 1.2569-1.6978 EUR rally. Indicators signal an existence of a maturing trend with ADX above 25, at 32.44, with both oscillators treading in a neutral territory, while momentum indicator is crossing above the zero line  with MACD sloping upward below the zero line. 

Key Levels & Technical Indicators

Chart of the Moment

Sam Shenker is a Technical Currency Analyst for FXCM.