EUR/USD: The EUR/USD went in a range for the most part of Monday, January 21, 2013. The bullish outlook is still valid, though it is becoming unstable because the Williams’ Percent Range is falling below the level at -50. A fall of the price below the 1.3300 support line will be the beginning of a serious threat to bulls.
USD/CHF: Surprisingly and interestingly, the outlook on the USD/CHF is quite similar to that of the EUR/USD. This is strange enough, but it will not last, as it was said earlier on Monday. Like the EUR/USD, there is a potential bearish threat, i.e. the Williams’ Percent Range is below the level at -50, as the price struggles to rest (and, possibly, break to the downside) on the 0.9300 support level.
GBP/USD: The Cable remains very weak right now, and will continue to be weak until there is some strong fundamental that can change the whole scenario. The RSI period 14 is below the 50 level, and the price is ready to touch the accumulation zone at 1.5800 once again (it has touched it once). Looking for more selling opportunities remains sensible.
USD/JPY: The correction on the USD/JPY remains in place, though the northward outlook is still bullish. For a threat to happen to this northward outlook, the price would need to break the demand zone at 89.00 to the downside, otherwise the price would break the supply zone at 90.00 to the upside. In fact, this is a general outlook for this week.
EUR/JPY: In spite of a slight correction to the downside this week, the outlook on this cross is bullish. However, the price has to go remain above the demand zone at 119.00 for this outlook to remain valid. Or else, it would break the supply zone at 120.00 to the upside, thus trending upwards once again.
