EUR/USD: There is a bullish signal on the EUR/USD pair, and just as it was forecasted earlier this week, price is expected to go further northwards. The market moved up beyond the support line at 1.0750 yesterday, targeting the resistance lines at 1.0800, 1.0850, and 1.0850. This bullishness would be sensible as long as price does not go below the support line at 1.0600.
USD/CHF: There is a bearish signal on the USD/CHF pair, and just as it was forecasted earlier this week, price is expected to go further southwards. The market moved up below the resistance line at 1.0000, targeting the support lines at 0.9950, 0.9900, and 0.9850. This bearishness would be sensible as long as price not go above the resistance line at 1.0000. The resistance line at 1.0000 is particularly important because it would not be easy to be broken to the upside, and so, the current bearishness is expected to hold out longer.
GBP/USD: The GBP/USD pair moved upwards by 170 pips yesterday, to continue the bullish signal that was started last week. There is a Bullish Confirmation Pattern and price may later reach the distribution territories at 1.2550, 1.2600, and 1.2650.
USD/JPY: What happened yesterday showed that the rally that happened last Thursday and Friday was an opportunity to sell short at better prices. Price went south on Monday, underlining the recent bearish trend in the market. Further downwards movement is expected for the rest of this week.
EUR/JPY: The movement on this currency cross is now quite similar to the movement on the USD/JPY pair. There is a Bearish Confirmation Pattern here, and a further bearish movement is possible as price targets the demand zones at 121.00 (the first target), 120.50, and 120.00.
