EUR/USD: There is now a clean Bearish Confirmation Pattern in this market. Price has moved upwards by over 170 pips since August 22, 2016, enabling the EMA 11 to go below the EMA 56 (while the Williams' % Range period 20 is in the oversold territory). Further bearish movement is clearly possible and more support lines would be tested.
USD/CHF: There is now a clear Bullish Confirmation Pattern in this market. Price has moved upwards by over 200 pips since August 22, 2016; corroborated by weakness in EUR/USD, weakness in the CHF, and stamina in the USD itself. As long as these factors are in place, USD/CHF would continue moving upwards.
GBP/USD: A bearish signal has formed on the Cable. The EMA 11 has crossed the EMA 56 to the downside and the RSI period 14 has crossed the level 50 to the downside. This is a development in agreement with the dominant bias in larger time frames like daily and weekly charts. Further southwards movement is possible.
USD/JPY: The USD/JPY cross has continued the bullish journey it started on August 26, 2016. Since then, price has gone upwards 270 pips, now testing the supply level at 130.00. The next targets for bulls are located at the supply levels of 103.50 and 104.00. Unless there is a significant stamina in the JPY, those targets would be attained this week or next.
EUR/JPY: The EUR/JPY cross has continued the bullish journey it started last Friday. Since then, price has gone upwards 150 pips, now above the demand zone at 144.50. The next targets for bulls are located at the supply zones at 115.00, 115.50, and 160.00. Unless there is a significant stamina in the JPY, those targets would be attained this week or next.
