EURUSD: Contrary to the signal that was generated last week (which was bearish), this market traded upwards on Monday. Given the conditions on the indicators on the 4-hour chart, the bearish outlook is still valid, though precariously. Whatever happens today will determine what will probably happen for the rest of this week. If the market moves significantly upwards it will signify the end of the current bullish scenario.
USDCHF: Whatever happens today on the USDCHF it will be valid for the rest of this week. There is still a bullish signal; as it started appearing last week, but the yesterday’s price action poses a serious threat to bullish continuation. The bullish conditions on the indicators are still vivid, but they will be rendered useless, if there are some southward plunges.
GBPUSD: Here, there is a ‘buy’ signal – something that is still valid. The EMA 11 is still above the EMA 56, though the Williams’ % Range gives something of a mediocrity in value. When EUR becomes strong, GBP will follow suit. This means that it will not be difficult for the price to reach the distribution zone at 1.6100.
USDJPY: This pair still ranges – with some traces of bullish determination. This means if there should be a breakout, it is more probably to be on the upside. The define ranges are currently the upper and lower territories at 82.50 and 82.00. When there is a break out of either of this, the next price movement will be determined.
EURJPY: The situation on this market remains tricky; requiring some tact. The bearish signal that was generated yesterday was quickly challenged (and could be potentially rendered useless). Yesterday the price attempted to rally, and as the rally continues, the present bearish situation becomes useless, especially if the price goes above the EMAs.
