Euro may gain against majors

I expect the European currency to reverse its recent downtrend against the Dollar, the British pound and the Swiss Franc.
The EURUSD shows a high-and-tight-flag just below the key short-term resistance range at 1.3448/1.3474. Recent upward momentum puts the favor on the bulls’ side.
The EURGBP shows pretty much the same picture, a strong upmove yesterday after a failed break below 0.8363 has trapped shorts. I think we need to see a higher low before a successful break above the overhead resistance.
The EURCHF had briefly tested its prior low at 1.2934, now breaking the short-term trendline. A 1-2-3 reversal would target the 1.3200 level.


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