EURUSD: This pair is now moving opposed to the bias it saw last week. This week, the market has gone upwards by more than 110 pips. The Williams’ % Range is already showing an overbought position, though there has not yet been any bullish confirmation pattern. One would need to wait for a clearer signal before taking any step.
USDCHF: The USDCHF has always been in a range – in most cases. The price has oscillated between the resistance level of 0.9200 and the support level of 0.9100. In a nutshell, the northward possibility remains valid, and should there be a breakout in the aforementioned range, it is probably above the resistance level at 0.9200.
GBPUSD: The GBPUSD has nosedived by over 250 pips so far in this week. The southward probability remains valid: the EMA 11 is below the EMA 56, as the RSI period 14 has gone below the level 50. If a short order had already been opened on this market, it can be ridden continuously.
USDJPY: The USDJPY remains in the bullish position – given the weakness of the yen. The market pulled back a little this week, but could not go lower beyond the supply level at 93.00. This supply level is a great area to enter a new long trade.
EURJPY: The bearish retracement on this cross was not as strong as that of USDJPY. The recent equilibrium zone could not be enhanced below the price zone at 125.00, and therefore, the price began another new lease of buying strength. This northward outlook could take the price to the supply zone at 127.00.
