EUR/USD: The EUR/USD pair has been consolidating for most of this week, going briefly upwards on Wednesday. It happened in the context of a downtrend, and it is most likely that when momentum returns to the market, it would be in favor of bears. The outlook on the market remains bearish.
USD/CHF: The USD/CHF pair has been consolidating for most of this week, going briefly downwards on Wednesday. It happened in the context of an uptrend, and it is most likely that when momentum returns to the market, it would be in favor of bulls. The outlook on the market remains bullish.
GBP/USD: The GBP/USD pair went upwards this week, and it is currently correcting to the downside, though the Bullish Confirmation Pattern remains intact in the market. Further northwards journey is expected soon as the distribution territories at 1.2600 and 1.2650 are reached, which are still valid targets.
USD/JPY: This is a bearish market. The EMA 11 is below the EMA 56 and the RSI with period 14 is below the level of 50. The outlook on the market (as well as other JPY pairs), remains bearish. So there are still possibilities that the demand levels at 109.00, 108.50 and 108.00 would be tested between now and next week.
EUR/JPY: This pair has consolidated so far in the context of a downtrend. Price may gain some momentum soon, which would most probably happen before the end of next week. When momentum strengthens, it would favor bears, as price goes towards the demand zones at 116.00, 115.50 and 115.00.
