EUR/USD: This currency trading instrument went flat throughout last week and on Monday, without going above the resistance line at 1.1200, nor going below the support line at 1.1000. A breakout is imminent this week, which would most probably be in favor of bulls. This means that the resistance line at 1.1200 could be broken to the upside this week.
USD/CHF: The USD/CHF simply consolidated on July 18 – in the context of an uptrend. A movement below the support level at 0.9700 could result in a bearish outlook, and in case bulls are able to push the price upwards, the next targets could be the resistance levels at 0.9850 and 0.9900.
GBP/USD: This currency trading instrument moved upwards last week; and further bullish movement is expected this week, which could result in a bullish signal in case the price goes upwards by another 500 pips. However, it would take a long time before the bias on daily and weekly charts becomes bullish.
USD/JPY: This currency trading instrument made some attempt to go further upwards yesterday, now above the demand level at 106.00. Bulls might be able to target the supply levels at 106.50, 107.00, and 107.50. This bullish bias would hold as long as the price does not go below the demand levels at 105.00 and 104.50.
EUR/JPY: On Monday, the movement of the EUR/JPY was similar to the movement of the USD/JPY. There is a Bullish Confirmation Pattern in the market, and the price could go further upwards. This bullish bias would hold as long as the price does not go below the demand zones at 105.00 and 104.50.
