EUR/USD: The trend on the EUR/USD is bullish, irrespective of the current corrections. Though the William’s Percent Range has fallen into the oversold level, the price still remains above the EMA 56. It would soon be revealed whether the price could stay above the resistance line at 1.3500.
USD/CHF: The trend on this pair is bearish. The price still remains far below the EMA 56, though the Williams’ Percent Range is heading up. This would merely turn out to be a correction in the context of a downtrend. The resistance level at 0.9100 should do a good job in holding further bullish attempt.
GBP/USD: This tricky market is rallying again, following a significant drop on Friday (February 1, 2013). No long position is yet recommended here as a result of this. The price is still below the EMA 56 and the RSI has not crossed the level 50 to the upside. The price may not go above the distribution zone of 1.5800.
USDJPY: As it has always been, there is now another correction in the market. This week, however, this correction is expected to halt, as a new lease of strength is given to bulls. The correction should not reach the price level of 92.00, but the price itself can break the supply zone at 93.00 to the upside, when the bullish continuation starts.
EUR/JPY: This cross has been corrected lower by around 150 pips, following this week market open. The trend remain bullish: the price is still above the EMA 56 and the RSI period 14 is yet to cross the 50 level to the downside.
