EUR/USD: The EUR/USD is still trading in a range, i.e. between the resistance line of 1.3350 and the support line of 1.3300. There must be a break beyond either of this before the next price direction could be determined. Before this, the price would continue to move sideways in that zone.
USD/CHF: The bearish threat is gathering momentum on this pair, as the price stays below the resistance line at 0.9300. The Williams’ Percent Range is already in an oversold situation, and the EMA 11 would need to cross its EMA 56 counterpart to the downside before the next order could be opened with certainty. The outlook remains bearish.
GBP/USD: The outlook on the Cable is also bearish – the price is far below the 2 EMAs and the RSI period 14 lays below the 50 level. The price would need to touch the accumulation territory at 1.5800 and possibly break it to the downside before going further downwards. Should this objective be achieved, the next target would be the accumulation zone at 1.5750.
USD/JPY: There has been a bearish signal on this pair, and it is still valid. The RSI period is 14 below the 50 level, and the price lies below the EMA 56. There is a need for more buying pressure to form, and this is exactly what is expected.
EUR/JPY: The same is true of the EUR/JPY cross – just as it is true of USD/JPY. The price is almost below the EMA 56, and the RSI period 14 is already below the 50 level. More bearish pressure could drag the price downwards towards the demand zone at 116.50.
