EUR/USD: This pair has only moved sideways in the context of a downtrend. The bias is bearish. When momentum returns to the market, it would most probably be in favor of the bears. The price would target the support lines at 1.0650 and 1.0600, going further and further southward. The outlook on EUR pairs remains bearish.
USD/CHF: The USD/CHF pair still maintains its bullishness, despite some visible consolidation in the market. The price is still above the important support line at 1.0000, going towards the resistance line at 1.0050 and 1.0100, which would be the targets for this week. The bullishness in the market would be logical as long as the price is above the support line at 1.0000.
GBP/USD: This market has come down a bit this week, but that is not strong enough to override the recent bullish bias on the market. There would soon be some momentum in the market, which would most probably be in favor of bulls. The targets for this week remain at the distribution territories at 1.2500, 1.2550, and 1.2600.
USD/JPY: The USD/JPY pair has come down a bit this week, emphasizing the extant bearish bias on the market. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. It is expected that the market would continue going further downwards, reaching the demand levels at 110.50, 110.00, and 109.50.
EUR/JPY: This cross is a bear market. Any upwards bounces seen here should be counted as opportunities to sell short at better prices. Since March 13, 2017, price has gone down 500 pips, now below the supply zone at 118.00. There is a Bearish Confirmation Pattern in the chart and further bearish movement is anticipated, especially in the face of the bearish outlook on JPY pairs.
from www.instaforex.com
