Technical Outlook for Majors 26/08/2015
 

EURUSD
The Euro continues to trade in consolidative phase, under fresh high at 1.1712, posted on 24 Aug. Dips were so far contained by broken bear-trendline that connects Feb/May peaks at 1.1532/1.1465 and just above Fibonacci 38.2% 1.0844/1.1712 upleg at 1.1381 that marks the first breakpoint and guards 200SMA at 1.1323. Below here, next significant support lies at 1.1278, daily Kijun-sen line / 50% of 1.0844/1.1712 rally, where extended dips should find ground. Near-term studies are in neutral/positive mode, while break of daily Stochastic from overbought zone, gives bearish signal and keeps near-term risk shifted lower. Asian high at 1.1560, marks initial resistance, ahead of yesterday