EUR/USD: There is now an unambiguous bullish signal on this pair, since positive news from the Eurozone has fuelled the pair. Today or tomorrow, it is possible for bulls to attain the resistance lines at 1.1100 and 1.1150. There are support lines at 1.0950 and 1.0900, which should obstruct bearish attempts along the way.
USD/CHF: It is intriguing to see that both USD/CHF and EUR/USD are trying to go upwards at the same time. According to their nature, the two pairs ought to go in opposite directions. The resistance level at 0.9900 is now being tested. Unless the USD loses stamina, the resistance level would be breached to the upside.
GBP/USD: Although the cable moved upwards strongly before the current sideways movement, the upwards attempt has not rendered the recent bearish outlook completely invalid. The distribution territory at 1.5600 is being tested repeatedly. In case it is breached to the upside, the price could go towards another distribution territory at 1.5650. Should this happen, it would lead to a new bullish signal.
USD/JPY: Interestingly, the USD/JPY pair is also moving upwards, but not as strongly as the EUR/JPY pair. The price has moved above the EMA 56 and the RSI period 14 is above the level 50. The demand level at 125.00 has already been overcome, the next target for bulls is the supply level at 125.50.
EUR/JPY: The EUR/JPY pair has moved upwards by over 200 pips this week. The price is currently trading above the demand zone at 138.00, targeting the supply zone at 139.00. There is now a strong Bullish Confirmation Pattern on the chart. Unless the yen gains a significant amount of stamina, the cross would continue moving upwards.
