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:
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.