EUR/USD: There has not been any strong movement on EUR/USD so far this week, but the bias is bearish. The EMA 11 is below the EMA 56, and the Williams' % Range period 20 is poised to drop further into the oversold territory, as soon as price starts going further south. Only a pullback on USD/CHF would cause this market rally.
USD/CHF: Despite the fact that this pair has not done anything significant this week, there remains a Bullish Confirmation Pattern in the market, which is supposed to aid further bullish movement when momentum does return to the market. The resistance levels at 1.0200 and 1.0250 are the next targets.
GBP/USD: The Cable made a faint bullish attempt on Tuesday, and that could indicate the beginning of a long-term uptrend. The EMA 11 has crossed the EMA 56 to the upside, and the RSI period 14 has crossed the level 50 to the upside. But before the overall bearish bias could turn bullish, price would need to go upwards by at least 1,000 pips.
USD/JPY: This currency trading instrument has done nothing significant so far this week; but a breakout is imminent in the market, which would most probably favor the bears, because the outlook on the market is bullish. Therefore, the supply levels at 113.00, 113.50, and 114.00 would be tested today or tomorrow.
EUR/JPY: The EUR/JPY pair went upwards yesterday, following the shallow bearish correction in the context of a downtrend, which happened on Monday. Bulls might still continue to push price higher and higher, as it reaches the supply zones at 120.00 and 120.50.
