EUR/USD: This pair is bullish in the short-term, but the event of Tuesday has shown that, unless bulls show determined effort to continue pushing up the market, bears are intent on scuttling their effort. A movement below the support line at 1.1150 would result in the end of the short-term bullishness of the market. A movement above the resistance line at 1.1300 would result in a clean Bullish Confirmation Pattern in the market.
USD/CHF: Here, the EMA 11 is below the EMA 56 and the Williams' % Range period 20 is not too far from the oversold territory. Any upwards slopes in the Williams' % Range period 20 is an indication of another short-selling opportunity in the market. The support levels at 0.9650 and 0.9600 might be tested this week or next. The USD/CHF would rally only when the EUR/USD experiences exponential fall.
GBP/USD: The Cable is a bear market, and any rallies that are seen here can be taken as opportunities to sell short when price gains in the context of a downtrend. There would need to be a protracted bullish movement of at least, 1000 pips, before the current bearish outlook can be overridden. This would require an extraordinary amount of buying pressure, otherwise, the current bearish bias would continue.
USD/JPY: There is a Bearish Confirmation Pattern in this market, and further bearish movement is possible. The market is kind of quiet right now, but when momentum returns to it, it would be in favor if bears. Therefore, the demand levels at 100.00, 99.50 and 99.00 are potential targets this week.
EUR/JPY: The EUR/JPY is still in a bearish mode. Price is below the supply zone at 113.00, almost testing the demand zone at 112.50. Further bearish movement is possible, and additional demand zones at 112.00 and 111.50 could be tested.
