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This week’s watchlist puts the euro in focus.  

EUR/USD is on meeting key support on the weekly basis and has printed an overextended M-formation that would be expected to attract  the bears at this juncture.

EUR/USD daily chart

This leaves EUR/JPY’s hourly outlook as follows for the open:

GBP/USD daily  

Hourly chart

While the M-formation on the daily chart is compelling, the hourly is meeting a key Fibo that would be expected to hold off the bulls at this juncture.

The Chart of the Week: Gold price remains under pressure at key resistance