EUR/USD: The EUR/USD touched the resistance line at 1.3400, but could not break it to the upside; neither could it get corrected to the downside significantly. The EMA 11 is still above the EMA 56, and the Williams’ Percent Range is yet in the overbought territory. The bullish signal is still valid.
USD/CHF: The USD/CHF traded upwards on Monday (while the EUR/USD failed to trade downwards significantly). The EMA 11 is still below the EMA 56, though the Williams’ Percent Range is heading out of the oversold area. Nevertheless, the bearish outlook is still valid, which means that the upward rally that happened yesterday is an indication of a sell-on-rally mode.
GBP/USD: The GBP/USD fell downwards on Monday – given the strength of the USD and the weakness of the GBP. This market should be handled with caution, as it would soon retrace northwards if the EUR/USD happens to gather some stamina. Should the price fail to move more upwards, the scenario will turn bearish: the EMA 11 has crossed the EMA 56 to the downside as the RSI period 14 has fallen below the 50 level.
USD/JPY: The trend of this pair remains bullish. The price is above the EMA 56, and the RSI period 14 is above the 50 level. The price is not expected to fall below the price level at 89.00, and should this hold out to be true, the price would move upwards.
EUR/JPY: This cross is also in some bullish determination in spite of the negligible retracement that happened yesterday. The price could not go lower than the 119.00 zone, and therefore bounced upwards. The EMA 11 remains above the EMA 56 – the price could still go upwards.
