EUR/USD: The EUR/USD pair plunged this week (by 190 pips) into the support line at 1.1000. That support line is actually a strong psychological level and bears would not expect to push the market below that line easily; hence the current upwards bounce. The upwards bounce would turn out to be a good opportunity to sell short at slightly higher prices.
USD/CHF: The USD/CHF pair has not been able to break the formidable resistance level at 0.9900 to the upside. Bulls tried to push price further upwards, but their attempt was rejected as price got corrected lower. The bias is still bullish, and price would go back towards the resistance level again, where another opposition would be encountered.
GBP/USD: This currency trading instrument remains bearish, both in long-term and short-term outlook. There is a huge Bearish Confirmation Pattern in the market, and any bullish effort should be taken as sell-shorting opportunities.
USD/JPY: This is a bull market. The EMA 11 is above the EMA 56 and the RSI period 14 is above the level 50. Here, any bearish retracements that are seen should be taken as opportunities to buy long at better prices. Price has come down a bit, after testing the supply level at 104.50. That supply level could still be tested today or earlier next week.
EUR/JPY: It is better to stay away from this market right now, because there is no directional movement (except one is trading on a very low time frame, going for quick gains). We could wait till price goes above the supply zone at 116.00, showing a bullish signal, or when price drops below the demand zone at 113.50, showing a bearish signal.
