EUR/USD: This pair consolidated from Monday to Wednesday, and then rose massively on Thursday and Friday. The resistance line at 1.2200 has been tested, and it could be breached to the upside (as price aims to gain another 150 pips this week). The outlook on EUR pairs remains outlook for this week.
USD/CHF: The USD/CHF made some weak bullish effort from January 8 to 10, almost reaching the resistance level at 0.9850. However, a further bullish attempt was rejected as a bearish movement was assumed, which ended up generating a bearish signal in the market. From the high of last week, the price dropped by 170 pips, closing below the resistance level at 0.9700 on Friday.
GBP/USD: There has been a serious bullish breakout on the Cable, which has ended the neutrality of several weeks (save the bullish attempt that was seen in the last week of December 2017). The price gained 250 pips, to close above the accumulation territory at 1.3750. Other targets to be reached are the distribution territories at 1.3750 and 1.3800.
USD/JPY: The USD/JPY dropped massively last week, shedding 220 pips and testing the demand level at 111.00, with the intent to breach it to the downside. There is a huge Bearish Confirmation Pattern in the 4-hour chart, and further bearish movement is anticipated in the market. The next targets are the demand levels at 110.50, 110.00 and 109.50.
EUR/JPY: The EUR/JPY cross went bearish on Monday, Tuesday, and Wednesday, and then bounced upwards on Thursday and Friday (January 11 and 12). A movement of 100 pips to the upside would bring about a "buy" signal, while a movement of 150 pips to the downside would bring help restore and strengthen the recent bearish effort.
