EUR/USD: The northward determination in the EUR/USD is being justified right now, with a vivid Bullish Confirmation Pattern in the chart. The EMA 11 is above the EMA 56, and the Williams’ Percent Range is in the overbought condition. The next price target would be the resistance line at 1.3550, after the resistance line at 1.3500 has been broken to the upside.
USD/CHF: In spite of the bulls’ adamancy, this pair started a journey to the downside. There is now a Bearish Confirmation Pattern in the chart: the price is below the EMA 11, which itself is below the EMA 56, while the Williams’ Percent Range has just crossed into the oversold region. The next price level to be reached is the support zone at 0.9150, after the support zone at 0.9200 has been breached to the downside.
GBP/USD: Since January 14, the cable has dropped seriously. The outlook for this week also remains bearish. The EMA 11 is below the EMA 56 (while the price is far below them), with the RSI period 14 below the 50 level. But right now, the market is retracing upwards. Time would tell whether this will prove to be a rally in the context of a downtrend or it is the beginning of a new trend. Right now, opening new positions is not recommended.
USD/JPY: This instrument is still consolidating, with no clear direction yet in this week. The outlook is still bullish: the price is above the EMA 56 and the RSI period 14 is still above the 50 level. Right now, the market would need to reach the support level at 91.00, break it upwards, and then go to the next support level at 91.50, for this outlook to remain valid.
EUR/JPY: This cross will still go up, as it is doing right now. The bullish bias on the cross is valid. The EMA 11 stays above the EMA 56, and the RSI period 14 is above the 50 level. The market will not find it difficult to reach the demand zone at 123.00, being above the price zone at 122.00.
