EUR/USD: The EUR/USD pair did not undergo much activity yesterday. The bias is bearish and further downward movement is anticipated this week, which would make price reach the support lines at 1.1100 and 1.1050 this week.
USD/CHF: This pair went flat on August 5, 2016 – while the bias on the market remains bullish. There is a Bullish Confirmation Pattern in the market, and it is expected that when the trend resumes, it would be in favor of bulls. The resistance levels at 0.9850 and 0.9900 could still be tested this week.
GBP/USD: GBP is already strengthened versus other majors (while the EUR/GBP is going downwards). There may be pullbacks along the way, which would be temporary in most cases. This means that further upwards movement is anticipated on GBP/USD, which might reach the distribution territories at 1.3400 and 1.3450 this week.
USD/JPY: The USD/JPY pair experienced a minor pullback on Monday. The bias on this pair, as well as other JPY pairs, is bullish. There is a Bullish Confirmation Pattern in the market, and further northward movement is possible. Until there is a noteworthy change in the market, long trades would be logical.
EUR/JPY: The EUR/JPY pair underwent an 85-pip pullback on Monday, in the context of an uptrend. The pullback could end up being an opportunity to buy at a lower price, for the market could go up upwards from here. As long as price does not go below the demand zone at 113.00, the bullish bias would remain valid.
