EUR/USD: This pair has moved largely sideways this week, fluctuating between the support line at 1.1200 and the resistance line at 1.1300. There would soon be a break out of the support and resistance lines, which is expected to happen before the end of this week or early next week. That is what would lead to a directional movement, most probably in favor of bears.
USD/CHF: The USD/CHF pair is 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: A short-term bullish signal has been generated on the GBP/USD pair. Price is barely above the accumulation territory at 1.2950, and it may go towards the distribution territory at 1.3000. Some fundamental figures are expected today and they may have an impact on the market.
USD/JPY: There is a Bearish Confirmation Pattern on the USD/JPY pair. Price has gone down this week to put more emphasis on the bearishness in the market, which started a few weeks ago. The market is currently below the supply level at 109.50, going towards the demand level at 109.00, the immediate target.
EUR/JPY: This cross pair has dropped 140 pips this week, leading to a bearish outlook on the market, which was well anticipated. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. The market is currently volatile, but further bearish movement is expected.
