EUR/USD: The EMA 11 is above the EMA 56 on the EUR/USD. The price closed at 1.3318 on Friday. Given the positions of the EMAs and the Williams’ Percent Range, the bullish mode remains valid for this week.
USD/CHF: Strangely enough, the USD/CHF is also in a bullish mode – just like its EUR/USD opponent. The price remains above the 2 EMAs as it closed at 0.9341 on Friday. We would assume a bullish bias this week; though it must be noted that both the EUR/USD and the USD/CHF cannot go in the same direction for a long period of time.
GBP/USD: The Cable is very weak, just as it was said at the beginning of this article. Right now, the market is in a clear bearish mode (it closed at 1.5864 on Friday). The safest mode of transaction is to go short at sensible levels this week.
USD/JPY: This market remains in some northward determination: the price is far above the EMA while the RSI remains above the 50 level. The price closed at 90.08 on Friday. There is a bears’ siege at the price zone at 90.00, and since the outlook is bearish for this week, it is expected that the zone would be broken to the upside.
EUR/JPY: On Friday, January 18, 2013, the EUR/JPY cross closed at 119.97. The outlook here points northwards – the EMA 11 is above the EMA 56, and the RSI period 14 is above the 50 level. Only long orders are recommended this week.
