EUR/USD: There is now a Bearish Confirmation Pattern in the market, which means the price could begin to trend further downwards. There is a potential bearish target at the support line of 1.0750, while the resistance line at 1.0950 is a formidable barrier for bulls.
USD/CHF: There is a clear bullish signal on the USD/CHF pair for the price has moved upward. The price moved above the EMA 11, which in its turn is above the EMA 56. The Williams' % Range period 20 is not too far from the overbought region. Since the important market level at 1.0100 is being successfully breached, it might be logical to assume that the price would continue moving northwards.
GBP/USD: The cable has found a strong support around the accumulation territory of 1.4100. The price has been going upwards in the context of a downtrend. As long as the price is below the distribution territory of 1.4400, it will not be safe to open long positions here.
USD/JPY: The USD/JPY pair trended downwards testing the demand level of 116.00 and bounced upwards later. From that demand level, the price has moved upwards by 200 pips, now around the supply area of 118.00. A further upward movement of another 200 pips is likely to result in a new bullish bias on the market.
EUR/JPY: The outlook for this market remains bearish, though there are mixed signals observed. It is better to stay away from this market until there is a directional signal. There may be a breakout today or next week, which would be influenced by the events affecting the euro.
