EURUSD: It can be said generally that the EURUSD pair was trading sideways throughout last week. The bullish bias is still valid on this market, though the position of the RSI period 14 shows that the bias is precarious. The support line at 1.3200 ought to do a great job in checking further bearish threat.
USDCHF: The market moved in a consolidating mode for most of the last week. On the chart the bearish outlook remains extant – with no threat to the outlook. The resistance level at 0.9200 should do a good job in halting any northward effort.
GBPUSD: The cable was volatile last week; seriously volatile. The price moved downwards, albeit not much. The EMAs still support a bearish outlook, but the Williams’ % Range is heading upwards. One would need to stay out of this market till there is a clearer confirmation of the next move.
USDJPY: This market moved upwards by over 200 pips last week. It traded upwards at the beginning of the week and later gapped up, moving further up. On Friday (December 28, 2012), the market retraced a little to the downside. It is still better to look for entry prices on the side of bulls.
EURJPY: What happened to this cross is similar to what happened to the USDJPY. This market moved upwards by over 300 pips last week. It traded upwards at the beginning of the week and later gapped up, moving further up. On Friday (December 28, 2012), the market retraced a little to the downside. Though the Williams’ % Range is heading down from the overbought area, the bullish outlook remains valid.
