EURUSD: USD moved up by more than 230 pips last week, plus the indicators on the chart are giving nice long signal. The RSI is now in the overbought region, which might lead to a possible pullback in the price. If it happens, it will be temporary. This week the resistance line at 1.3000 will be breached to the upside.
USDCHF: This pair dropped by close to 180 pips last week. This is something that could continue happening this week, for the indicators on the chart support this bias. The RSI 14 that stays below the oversold level means there could be some short-lived rally in the price. The price currently stays below the 0.9300, and it can reach the support level at 0.9250.
GBPUSD: After much hesitation and the northward probability, the GBPUSD pair finally shot up on Friday. That day it moved by more than 100 pips. The bullish confirmation is without argument, thought it should not be forgotten that the Williams’ % Range remains perpetually in the overbought territory.
USDJPY: The USDJPY pair is also bullish. If this scenario keeps going on in this week, the price will reach the supply territory at 83.00. The RSI period 14 was recently above the level 70, i.e. the overbought region, before going below it. Nevertheless, as long as it remains above the level 50, the bullish bias is valid.
EURJPY: This cross moved significantly last week – by more than 330 pips. This makes it more than a rise of more than 650 pips in the last two weeks. Trend riders, congrats! The EMAs 11 and 56 are sending a strong bullish bias, while the Williams’ % Range remains long in the overbought region. The supply zone at 107.00 is vulnerable.
