EUR/USD: This pair only moved sideways on Monday, and there is nothing significant so far. Only a movement above the resistance line at 1.1300 would lead to a "buy" signal, otherwise, this pair would remain bearish.
USD/CHF: There is a bullish signal on the USD/CHF – as shown by the current Bullish Confirmation Pattern in the chart. Price is currently above the support level at 0.9800, and it may later reach the resistance levels at 0.9850 and 0.9900 (which are the targets for bulls this week). However, it is unlikely that price would go above these resistance levels.
GBP/USD: The outlook on the GBP/USD remains bearish, both in daily and 4-hour charts. In the 4-hour chart, there is a Bearish Confirmation Pattern, which means price is supposed to continue going further south. There are accumulation territories at 1.3000 and 1.2950, which are potential targets for bears this week. Although there are also possibilities of the price going upwards once these accumulation territories are tested.
USD/JPY: This currency trading instrument moved slightly upwards on Monday, in what could well be a rally in the context of a downtrend. The outlook on the instrument, as well as other JPY pairs, remains strongly bearish. So it would be interesting to watch the demand levels at 101.00, 100.50 and 100.00, which should be breached after much selling pressure.
EUR/JPY: What happened in the market on August 8, 2016, could well be termed as a rally in a downtrend, for a bearish journey is expected to continue this week, as bears push price towards the demand zones at 112.50, 112.00 and 111.50. Since there is a Bearish Confirmation Pattern in the market, the demand zones would be likely reached, though there may be a show of strength by bulls along the way.
