The pairs at the weekly lows
GBP/JPY
A close here at 144.67 is close to the weekly low and will be the lowest weekly close since September 2017. In the big picture, the theme of higher lows is still intact but it's in danger. A close below 143.00 in the next week or two would definitely end it and lead to a deeper correction or sideways trading.
EUR/JPY
The one that really stands out is EUR/JPY. It's an ugly outside week with a close at the lows. The pair hit 131.15 on Tuesday then went on a three-day losing streak to end the week at the lowest since July 4. On net, it was a big candle and no major levels gave out (although the 55-dma broke Friday) so it's not a major week, but it's a poor sign.
EUR/USD
This chart is starting to look head-and-shouldersy. Support around 1.15 had held for the past two months but the must it could muster was a bounce to 1.18 that was quickly erased. The pair is slated to close on the weekly lows here and the lowest weekly finish in a year.
USD/CAD
The Canadian dollar has been the darling of the summer and that continued this week as it beat the field. The pair is likely going to close the week lower and below 1.30 after battling with that level for awhile. If you look at the bigger picture, it's still mixed. The June rip still isn't erased and there's been a nice uptrend since last September.
I think there's some better value in CAD crosses and on that topic, Greg had a look at the GBP/CAD chart and it's not a pretty picture.
