EUR/USD: This pair gave way to gravity yesterday, though the price is still above the resistance line at 1.3300. Despite being threatened, the bullish outlook remains intact. When the price falls below the resistance line at 1.3300, however, it could signify the beginning of a new trend.
USD/CHF: In contrast to most expectations, the USD/CHF has continued to gain strength. The fact is now undoubted: the price has gone beyond the resistance level at 0.9300 (to the upside). The Williams’ Percent Range has gone to the overbought area as the EMA 11 just crossed the EMA 56 to the upside. The Buy signal is vivid.
GBP/USD: As expected and as supported by market sentiment, this instrument has found it difficult to go up. As a result, the price went on consolidating to the downside. The EMA 11 is now clearly below the EMA 56, while the RSI period 14 is below the 50 level. The Sell signal is now clear.
USD/JPY: At last, the USD/JPY is being forced to yield to gravity. This strong currency pair plummeted by almost 100 pips on Tuesday. The price is now below the supply level at 89.00. But it is suspected that this may be another opportunity to buy cheaper, because the bullish outlook remains.
EUR/JPY: As it is valid for most JPY pairs, the price action on this cross may be another opportunity to buy cheaper in the context of a downtrend. Albeit the price has fallen by roughly 200 pips this week, the bullish scenario remains intact. The price is now below the price zone at 118.00.
