EUR/USD: The EUR/USD was moving sideways when it broke out upwards in the middle of the last week. The chart analysis and indicators support the bulls. The outlook on this market is bullish for this week.
USD/CHF: After much extended equilibrium zone, the pair broke out to the downside last week. This issue was preceded by much reluctance, but it is mandatory that the EUR/USD and the USD/CHF must trade in opposite ways. The EMA 11 has just crossed the EMA 56 to the downside, and the Williams’ Percent Range is already in the oversold area. The market will likely go down this week.
GBP/USD: The Cable still has a bearish outlook in it (something that continues to surprise given the position of the EUR/USD). The price was trending downwards last week, and 2 significant accumulation territories were broken downwards. The accumulation territory at 1.5750 would possibly be broken downwards this week, should this weak scenario drags on.
USD/JPY: After a downside movement that almost led to a sell signal last week, the instrument broke out towards the North and breached the price level at 90.50 to the upside. The supply level at 91.00 is currently under siege by buyers. Should the price break the supply level at 91.00 to the upside, the next target would be the supply level of 91.50.
EUR/JPY: Here too, the price consolidated to the downside and almost gave a bearish scenario confirmation. This, however, proved to be a bogus speculative indication. The price broke upwards vividly and breached the supply zone at 122.00 to the upside. The market, being in a northward mode, has already broken the price zone at 122.50 to the upside. The next price target remains the supply zone at 123.00.
