EUR/USD: The EUR/USD pair went southwards yesterday, making the Bearish Confirmation Pattern on the chart more conspicuous. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. There is a possibility for more bearish movement, and price may test the support line at 1.1100.
USD/CHF: There is a short-term "buy" signal on USD/CHF, and price is intent on going above the resistance level at 0.9800 in spite of the current uncertainties. In case this is successful, the next target would be the support level at 0.9850 and 0.9900, which may cause severe opposition from bulls, since that is a strong resistance level.
GBP/USD: This market has come down further this week, now testing the accumulation territory at 1.2950. There is a bearish outlook in the short term and the long term, which makes it illogical to go long in the market right now. The only logical approach to this market is to sell rallies, in anticipation of more southwards trend.
USD/JPY: This currency trading instrument has remained flat so far this week, but a rise in the momentum is expected this week, which would most probably favor bears. A closer look at the market reveals that the coming momentum would most probably cause further downwards movement. The EMA 11 is now below the EMA 56, and the RSI period 14 is below the level 50. A bearish signal is forming.
EUR/JPY: The Bearish Confirmation Pattern in the EUR/JPY 4-hour chart has now become vivid. Price is currently trying to go below the demand zone at 113.50, targeting another demand zone at 113.00. The outlook on the cross remains bearish and further downwards movement is expected.
