EUR/USD: The bearish run started on Monday nearly rendered the recent bullish outlook useless, but the price was able to shrug off further bearish sentiment, going above the EMA 56. The recent bullish outlook is supported and further northward movement may lead to more support for the bullish outlook.
USD/CHF: As we can see, the rally that happened on Monday paved the way for further bearish run on Tuesday. The price has dived again, almost testing the support level at 0.9500. That support level can be breached to the downside eventually.
GBP/USD: The GBP/USD pair was bullish on Tuesday, making attempts to go north in the context of the uptrend. The bullish bias, which was established last week, showed some determination to continue. The distribution territories at 1.5000 and 1.5050 might be attained again.
USD/JPY: The USD/JPY rose by 100 pips from the level of 119.00 , crossing the demand level at 119.50 to the upside. This led to a bullish signal in the market, and the signal can become even stronger after crossing the supply level at 120.00 to the upside.
EUR/JPY: This cross is also making some bullish efforts. The RSI period 14 has crossed the level of 50 to the upside, but it remains the EMA 11 to cross the EMA 56 to the upside before Bullish Confirmation Pattern formation in the chart. Then, the price is likely to cross the supply zone at 129.00. Otherwise, there would be a risk of downward movement.
