EURUSD: The general outlook on the EURUSD pair remains bullish, though the bulls are having some difficulty in pushing the price higher. The Williams’ % Range and the EMAs are supporting a bullish outlook, and thus one would do well to wait for any bearish conformation before one opens a short trade. If the price fails to break the support line at 1.3300 to the downside, it could go up.
USDCHF: The USDCHF pair has some bullish determination in it, but the market is presently moving in some range. The price now oscillates between the resistance level at 0.9350 and the support level at 0.9300. A break below the support level of 0.9300 or above the resistance level at 0.9350 would determine the next winner in the markets, especially when the price closes above or below one of the aforementioned price level.
GBPUSD: The bearish outlook on the cable is still valid, irrespective of the price bouncing off upwards from the accumulation territory at 0.5850. Only a break above the price territory at 1.5900 could pose any threat to the current outlook. Otherwise, it is possible that the price would reach the accumulation territory at 0.5800.
USDJPY: In a bullish context, the USDJPY pair has been corrected downwards a little. The correction is not expected to go below the demand level at 89.00 (which is worst-case scenario). Basically, the bullish context still holds and as such, a good buying opportunity is awaited.
EURJPY: Just like its USDJPY counterpart, this cross is in some negligible correction. The indicators on the chart still show some northward determination. The price is not expected to go below the demand level at 119.00, or else there would be some threat to the current bias.
