EUR/USD: The EUR/USD is currently bearish. The price began to move south last week, and it has gone further south this week. Rallies in the market have invariably resulted in opportunities to sell short, and thus, the next targets would be the support lines at 1.1700, 1.1650 and 1.1600.
USD/CHF: This pair has assumed some precarious bullishness since three weeks ago. A movement of 200 pips to the downside is enough to invalidate the current bullish bias; while a movement above the resistance levels at 0.9850 would strengthen the bias. Some fundamental figures are expected today and they may have some impact on the market.
GBP/USD: The Cable has gone downwards by about 130 pips this week, continuing the bearish movement that started last week. There is a Bearish Confirmation Pattern in the 4-hour chart. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. The accumulation territories at 1.3200, 1.3150 and 1.3100 might be tested very soon.
USD/JPY: This trading instrument has been able to maintain the bullish bias on the market, despite the fact that it has not moved significantly this week. A rise in momentum is expected this week or early next week, which would lead to further upwards movement (in case the Yen is weak). There is also a possibility of a downwards movement (in case the Yen is strong).
EUR/JPY: The EUR/JPY has been consolidating this week, with no clear direction. Further consolidation has led to a neutral bias on the market. For the neutral bias to be over, the price would need to go above the supply zone at 124.00 or go below the demand zone at 131.00, creating a directional movement.
