Eoin Treacy's view

Euro per 1 US Dollar overlaid with the Euro Stoxx Index – The Euro STOXX reacted positively to the Euro’s devaluation earlier this year and the currency’s recent strength represents a headwind for the Index. It has held a progression of lower rally highs since March and a sustained move above 366 would be required to question the medium-term supply dominated environment. 

Poland – failed to hold the breakout to new recovery highs in June and has since dropped below the psychological 50,000 to complete a type-3 top. While somewhat oversold in the short-term, a clear upward dynamic will be required to check momentum beyond a brief pause. 

 Topix 2nd Section – bounced today from the region of the 200-day MA and will need to hold the August low if medium-term scope for continued higher to lateral ranging is to be given the benefit of the doubt.