EURUSD: This bullish instrument had its northward journey rejected at the resistance line of 1.3300. Then it fell by 100 pips and hit the supply line at 1.3200. The bullish outlook still holds, especially as long as the price stays above the line at 1.3200. It is expected that the price could go back towards the resistance line at 1.3300, unless the greenback gains some strength.
USDCHF: Further bearish plunge was rejected at the support level at 0.9100, as the RSI period 14 reverts back from the oversold condition. This bullish rally was checked at the level at 0.9150, but if the price breaks it to the upside, the next target could be the resistance level at 0.9200. This may happen only when the greenback gains some stamina – the indicators on the chart shows bearish possibility.
GBPUSD: The other bullish attempt was also checked on the cable (at the distribution zone of 1.6300). The price dipped and was held at the zone at 1.6250. The bullish signal is still valid, and if the price dips further, it is not expected to go below the accumulation zone at 1.6200. Eventually, the price should go back upwards to test the distribution zone at 1.6300.
USDJPY: On the USDJPY pair, the upward journey in the market was stopped temporarily at the supply territory of 84.50. The price then dropped and rested on the territory at 84.00. The bullish possibility is still extant on the chart (as confirmed by the indicators), and therefore, the price could go back towards the supply territory at 84.50.
EURJPY: At the supply zone of 112.50, the EURJPY pair plunged downwards by approximately 150 pips, touching the demand zone at 111.00. The price could go back towards the north (the bullish outlook is still valid on the chart), unless there comes some boost of the JPY strength.
