EURUSD: This market moved up moderately on Monday and the bullish trend is still intact. The EMA 11 is above the EMA 56, while the RSI 14 period is going towards the level 70. Right now, the price is almost above the resistance line at 1.3000. The next target could be the resistance line at 1.3050.
USDCHF: The USDCHF pair traded sideways on Monday refusing to go either upwards or downwards. There is a great support level at 0.9250 which is a kind of hindrance to the price. When the price breaks this support level to the downside, it will go towards the level at 0.9200. The EMA 11 is below the EMA 56, as the RSI 14 period is below the level 50. The bearish bias is still extant.
GBPUSD: There was a moderate upwards movement on this market yesterday. The same thing may happen today; given the confirmation of buyers’ determination. It is expected that the price will break the zone at 1.6100 to the upside, thus making the distribution zone at 1.6150 a target. The EMAs support the northward outlook; the Williams % Range is in the overbought region, which might portend a temporary retracement.
USDJPY: The USDJPY pair has almost kept on correcting lower recently. The price is still above the EMA 56, as the RSI 14 period is almost atop the level 50. If there is anything I would like to do here, it would be to open a long trade. If you prefer a short trade you should wait for some bearish confirmations.
EURJPY: This cross rallied weakly and negligibly on Monday, oscillating weakly between the defined boundaries of 107.00 and 107.50. There will be a break above the zone at 107.00, and the price will target the supply zone at 108.00, either today or tomorrow. The Williams % Range in an overbought situation portends a probable downwards correction before the price moves further upwards.
