EUR/USD: The EUR/USD pair simply consolidated on June 6. There would soon be a rise in volatility, and the resistance line at 1.1300 may be breached to the upside as price goes further upwards. However, a bearish reversal is bound this week or next, owing to the bearish outlook on EUR pairs, which would probably materialize within the next several trading days.
USD/CHF: This pair is also in a bearish mode, although the market has moved sideways so far this week. The price is now below the resistance level at 0.09650, going towards the support level at 0.09600. Once that support level is breached to the downside, price would be able to target another support level at 0.9550. A serious pullback on the EUR/USD market would make USD/CHF to jump upwards.
GBP/USD: There is now a short-term bullish outlook for the Cable, as price manages to go above the accumulation territory at 1.2900. The next targets would be the distribution territories at 1.2950, 1.3000, and 1.3050. The long-term bias on the market remains bullish, and the bias would hold as long as there is no bearish journey of about 500 pips.
USD/JPY: A clean bearish signal has been regenerated on the USD/JPY pair. The overall bias has been bearish in the last few weeks, but a further bearish movement has occurred this week (120 pips), following the tight consolidation that was witnessed last week. The market would now go towards the demand levels at 109.00 and 108.50.
EUR/JPY: This cross pair has dropped 140 pips this week, leading to a strong Bearish Confirmation Pattern in the market. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. This bearish movement has thus happened according to the anticipated movement for the week, and a further southwards journey is possible.
