EUR/USD: This pair went slightly upwards on Monday – an insignificant thing in the context of a downtrend. As it was mentioned last week, the outlook on this pair is bearish, and further southward movement is expected this week, which could make the price go towards the support lines at 1.1250 and 1.1200.
USD/CHF: The market went slightly upwards yesterday, going above the support level at 0.9750 and targeting the resistance level at 0.9800. The bulls are still determined to push the price higher, and since there is a Bullish Confirmation Pattern on the chart, it is logical to expect further rally.
GBP/USD: This is a flat market, but there is a possibility that the price could go further downwards at a closer look. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. The market should move further southwards, testing the accumulation territories at 1.4350 and 1.4300.
USD/JPY: The bias on the USD/JPY, which simply went flat on Monday, is bullish, though this is something precarious. Unless the price goes above the supply level at 110.00, the bullish bias would remain weak. On the other hand, a movement below the demand level at 107.50 would mean a new lease of the bearish outlook. Today or tomorrow would determine what the market will do.
EUR/JPY: The bulls made a faint attempt to go upwards on May 16; and this has caused mixed signals on the 4-hour chart. It is better to stay away from the market until there is a strong movement in one direction. This week, a strong movement in one direction is expected any moment.
