EURUSD: The EURUSD pair has traded upwards in most part of this week – something that poses a threat to the extant bearish bias. The bias has almost ended, and it will vanish if this pair continues its upward attempts today. The RSI is already above the level 50, but the EMAs are yet to confirm the change in the trend.
USDCHF: This pair has largely corrected downwards this week. The RSI 14 is below the level 50, but the EMAs 11 and 56 are yet to cross each order in confirmation of a new bearish mode. However, if this bearish correction continues today, the downward reversal will be confirmed.
GBPUSD: On the chart representing the GBPUSD (4-hour chart). We can see that the Williams’ % Range 20 periods is trying to head out of the oversold territory. Yet, the market remains weak. No long position is recommended here right now.
USDJPY: There is a safely confirmed bearish scenario on the USDJPY (The RSI 14 period is above the level 50 and the price itself is far above the EMA 56). The price went northward yesterday until it nearly reached 81.50. The price retraced downwards a little and rested on top of the supply territory at 81.00.
EURJPY: Since Tuesday this pair has moved upward by close to 350 pips. This is a significant occurrence; being something that has rendered the recent bearish mode totally useless. The price is currently retracing southward and may give a new ‘buy’ opportunity at the demand zone at 103.00.
