EUR/JPY - Euro bulls continued to push the cross higher after breaking above 140.60, a level defended by the 23.6 Fib of the 130.62-141.61 EUR rally. As single currency longs continue to advance, a move above 143.00 figure will most likely see the cross extend its advance above 143.60, a level established by the December 13 daily high. A further move to the upside will most likely see EUR/JPY extend its rally toward the psychologically important 145.00 handle, a level marked by the 78.6 Fib Extension of the Aug-Dec EUR rally. A further break to the upside will most likely see the single currency traders push the cross toward 147.15 1.00 Extension Aug-Dec EUR rally. Indicators are mixed, with positive momentum indicator diverging from negative MACD, while both neutral oscillators give either side enough room to maneuver.

EUR/CHF - Euro remains confined to a large trading range that dominated the price action since June with the cross breaking above above the 1.5523, a level created by the 23.6 Fib of the 1.5079-1.5661 EUR rally. A further move toward the ranges upper boundary will most likely see the cross head higher, and with a swing to the upside most likely seeing EUR/CHF test the Swiss Franc offers around 1.5575, a level established by the October 18 daily high. A further collapse of the Swissie defenses will most likely see the cross head higher and take on 1.5628, a level marked by the August 5 daily high, and with sustained momentum seeing the EUR/CHF test the defenses around 1.5661, a level defended by August 1 daily high. Indicators are favoring euro longs with both momentum indicator and MACD above the zero line, while neutral oscillators give either side to maneuver.

EUR/GBP - Euro continues to trade within a large trading range that dominated the cross since the middle of August with the price action continuing to revolve around .6858, a level established by the 50.0 Fib of the .7106-.6609 GBP rally. A move to the upside will most likely see the cross head higher and with a move above the .6900 figure aim for .6916, a level created by the 61.8 Fib of the .7106-.6609 GBP rally. A further move to the upside will most likely see the euro traders push the cross toward .6968, a level established by August 5 daily high. A sustained upside momentum will most likely see EUR/GBP head higher and with sustained momentum take on the pond offers around the psychologically important .7000 handle, a level marked by 78.6 Fib of the .7106-.6609 GBP rally. Indicators are favoring the euro longs with both momentum indicator and MACD above the zero line, while neutral oscillators give either side to maneuver.

Sam Shenker is a Technical Currency Analyst for FXCM.