EUR/USD: The pair made both bullish and bearish attempts on Wednesday. The market is a kind of directionless at the moment, but a movement of 100 pips to the upside or to the downside is still expected this week. A movement to the downside would bring about a bearish bias, and the support lines at 1.1950 and 1.1900 could be tested.
USD/CHF: The pullback that happened yesterday has forced the market back into the "neutral" zone. The directional movement within the next trading days would determine what would happen. A movement to the upside would uphold the bullish bias, while a movement to the downside would invalidate it completely.
GBP/USD: This currency trading instrument has only gone flat so far this week. It is better to stay away from the market until there is a breakout in the market – for volatility is expected to rise within the next several trading days. Some fundamental figures are expected today and they may have impact on the markets.
USD/JPY: The USD/JPY pair has dropped by 190 pips this week, creating a huge Bearish Confirmation Pattern in the 4-hour chart. This is in accordance with the expected bearish movements on JPY pairs. Price is below the supply level at 111.50, and it could reach the demand level at 111.00 (even exceeding it).
EUR/JPY: The EUR/JPY pair has been going downwards since the beginning of this week. Price has gone south by 310 pips. The EMA 11 is below the EMA 56, and the RSI period 14 has gone below the level 50. Further bearish movements are expected, as price may go lower and lower by additional 200 pips (within this week and next).
