EUR/USD: The EUR/USD moved upwards in a vivid upward trend this week – by more than 130 pips. The EMA 11 is above the EMA 56, as the Williams’ Percent Range stays in the overbought region. The next price target should be the resistance line at 1.3600.
USD/CHF: The USD/CHF continues to give in towards gravity. The EMA 11 is below the EMA 56, as the Williams’ Percent Range remains in the oversold region. The next price target should be the support level at 0.9050.
GBP/USD: It looks like the GBP/USD has rejected any further bearish scenario totally. This is no wonder since the pair must find a way of becoming positively correlated with its EUR/USD counterpart. The price has finally broken the EMA 56 to the upside, and the RSI period 14 has crossed the 50 level to the upside. Once the EMA 11 shows its head above the EMA 56 (something that is expected seriously), I would crave a long trade.
USD/JPY: The bullish outlook continues to hold here. The price continues to be above the EMA 56 and the RSI period 14 is still above the 50 level. The price is now above the level of 91.00. The next price target should be the supply level at 91.50.
EUR/JPY: As prognosticated before, the EUR/JPY cross moved upwards by up to 180 pips this week. The bullish trend is very strong: the price zone at 124.00 is currently under siege. Should this be broken to the upside, the next target would be the supply zone at 124.50.
