EUR/USD: This pair has gone further northwards, gaining about 86 pips this week (following the consolidation that took place on Monday and Tuesday), and there is much room to go bullish. The next targets would be the resistance lines at 1.1850 and 1.1900. However, a more serious buying pressure is needed for the resistance line at 1.1900 to be breached to the upside.
USD/CHF: This market has gone further southwards, losing about 80 pips this week (following the bullish attempt that took place on Monday and Tuesday), and there is much room to go bearish. The next targets would be the support levels at 0.9800 and 0.9750. However, a more serious selling pressure is needed for the support level at 0.9750 to be breached to the downside.
GBP/USD: The GBP/USD has been making some bullish effort, and that effort has paid off. There is a vivid Bullish Confirmation Pattern in the 4-hour chart, and the price is currently above the accumulation territory at 1.3300, going towards the distribution territory at 1.3350 (which would be exceeded this week or next).
USD/JPY: This currency trading instrument has become bearish since November 6. The price has gone down by more than 330 pips since then – having the most conspicuous bearish movement this week. Price has gone below the supply level at 111.50, now very close to the demand level at 111.000, which would be breached to the downside very soon.
EUR/JPY: There is a clear Bearish Confirmation Pattern on the EUR/JPY cross. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. Further bearish movements are anticipated from here. It is possible for the price to continue going downwards because there are no big fundamental figures that could 'disrupt' things.
