EURUSD: EURUSD is currently trying to rally, though not in a very significant mode. The RSI period 14 is now pointing towards the level 50. If this rally continues for the rest of today and the RSI indicator eventually crosses the level 50 on the upside, a ‘buy’ signal would be generated eventually. But I prefer to stay out of the market right now.
USDCHF: The scenario on EURUSD is almost similar to the one on the USDCHF, albeit in an opposite manner. One would need to wait for a clearer signal before opening a long order. Here, I would prefer the RSI 14 to cross the level 50 on the downside before looking for an entry point.
GBPUSD: The cable is currently showing a bullish pressure, coupled with strong northward determination. There has been a significant rally today, and as a result of it, looking for a long entry would be sensible in the long run. However, the Williams’ % Range is in an overbought region; it may cause a temporary pullback in the market.
USDJPY: The JPY pairs in most cases have been caught in a steady and protracted bullish bias for many days. The USDJPY pair is no different. The great supply territory at 80.00 was breached on the upside as it was predicted. The next target would be 80.50, if scenario continues. Please bear it in mind that the RSI 14 has constantly stayed in the overbought region.
EURJPY: The EURJPY pair, bullish EURJPY! This cross has rejected the bearish correction it had experienced recently. The correction took the price to the demand zone at 103.00, and since then, the price has rallied by around 130 pips. The bullish trend on the cross is still valid.
