EUR/USD: On this pair, the bearish signal is still valid: the EMA 11 is below the EMA 56, while the RSI period 14 is below the 50 level. There was some moderate bearish run yesterday, and this is expected to continue. The price would eventually reach the support line at 1.3050.
USD/CHF: The USD/CHF rallied weakly on Tuesday, but it is still determined to continue. The bullish signal remains intact: the EMA 11 is above the EMA 56, while the RSI period 14 is above the 50 level. With the northward determination in mind, the price has almost broken the level at 0.9250 to the upside, after which it will touch the resistance level at 0.9300.
GBP/USD: Generally, the outlook on this market is downwards, with short-term rallies closely followed by short-term pullbacks. Yes, the EMA 11 remains below the EMA 56, while the Williams’ Percent Range is not far from the oversold region. The price is below the distribution zone of 1.6100 and would soon reach the accumulation zone at 1.6000.
USD/JPY: At this juncture, no new long trades are recommended on the USD/JPY. The price is still above the EMA 56, but the RSI period 14 is below the 50 level. There are two possible scenarios: 1) if the RSI period 14 goes back above the 50 level, it would be a Buy signal; 2) if the price eventually falls below the EMA, then the dominant outlook would be bearish.
EUR/JPY: The recent northward outlook on the EUR/JPY is being threatened as the Williams’ Percent Range goes into the oversold territory. The EMA 11 is yet above the EMA 56, so one would do well to wait for the price to go below the two EMAs before a new position is opened. Should this not transpire, there would be a new opportunity to go long.
