EUR/USD: this pair is still in a bearish mode, though things are going into an equilibrium territory. Should the price start moving sideways, it would be in the context of a downtrend. The fundamental figures expected today would have some impact on the market.
USD/CHF: the situation is dicey surrounding the USD/CHF pair. There are mixed signal in the market and it would be better to stay away until we see a directional movement. Generally, the market should not go below the support level of 0.9750; otherwise the bias would turn bearish in the market.
GBP/USD: the GBP/USD pair has moved down by almost 400 pips this week, moving briefly below the accumulation territory of 1.3900 before the shallow correction witnessed. The accumulation territory of 1.3900 is important now because the price needs to go below it. So the southward movement can continue. Should the price move above that territory, the price would enter a consolidation phase.
USD/JPY: this currency trading instrument has simply consolidated to the downside, and there is still a bearish indication on the USD/JPY chart. The EMA 11 is below the EMA 56 in the 4-hour chart, while the RSI period 14 is below the level of 50. This means that the price could go further downwards. Any rallies that occur in the market should be approached with caution.
EUR/JPY: having dropped by 300 pips, testing the demand zone around 122.50, this cross jumped upwards in the context of a downtrend. Now, there is a Bearish Confirmation Pattern in the chart (the EMA 11 is below the EMA 56, and the RSI period 14 is below the level of 50). Rallies could proffer short-selling opportunities on this cross.
