EUR/USD: There is a sell signal on the EUR/USD pair. The EMA 11 is below the EMA 56 and the Williams' % Range with period 20 is in the oversold area. Further bearish movement is anticipated, which may take the price towards the support lines at 1.0850, 1.0800 and 1.0750. A strong rally would render this expectation invalid.
USD/CHF: The dollar-frank pair went upwards this week, gaining about 210 pips. The price is above the support level at 1.0050 now, going towards the resistance level at 1.0100. Once the resistance level at 1.0100 is breached to the upside, the next target would be the resistance at 1.0150.
GBP/USD: There is now a threat to the current bullish bias, especially in the short term. The EMA 11 is almost crossing the EMA 56 to the downside and the RSI with period 14 is already below the level of 50. Further southward movement would result in a bearish bias, particularly when the price drops by about 150 pips.
USD/JPY: This currency trading instrument has gone further upwards this week, though there is a shallow bearish retracement in the market. There is a Bullish Confirmation Pattern on the 4-hour chart. Further bullish movement is anticipated, which would take the price towards the supply levels at 114.00, 114.50, and 115.00.
EUR/JPY: There remains a bullish outlook on the EUR/JPY in spite of the current shallow bearish threat in the market. While the price could test the demand zones at 123.00 and 122.50, things would not turn really bearish until the demand zone at 121.50 is breached to the downside. A movement to the upside would strengthen the recent bullish bias.
