EUR/USD: There is a bearish signal on the EUR/USD pair. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level of 50. This means a Bearish Confirmation Pattern in the market, and the current upwards bounce could end up being another opportunity to sell short at a better price.
USD/CHF: This pair is quite choppy right now. It is possible that price would move upwards by around 200 pips this week – an event that could emphasize the recent bullish bias on the market. The bullish bias would essentially remain valid as long as price stays above the support level at 1.0000.
GBP/USD: This currency trading instrument is now trying to rally in the context of an uptrend. The rally may be checked at the distribution territories at 1.2400 and 1.2450. Normally, the outlook on the market remains bearish for this week, and the accumulation territories at 1.2200, 1.2150, and 1.2100 could be tested this week.
USD/JPY: The USD/JPY pair went upwards on Monday and Tuesday, only to get corrected earlier today. All this happened in the context of an uptrend, and the supply levels at 118.50 and 119.00 could still be tested this week.
EUR/JPY: This currency trading instrument could still go further upwards this week. Since EUR made some bullish attempts last week, price went upwards, closing above the demand zone at 122.50, and generating a nascent bullish signal, owing to a Bullish Confirmation Pattern in the market.
