EUR/USD: The outlook on the EUR/USD is bearish, and will continue to be so. The EMA 11 is below the EMA 56, and the Williams’ Percent Range is in the oversold area. It would not be difficult for the price to break the support line at 1.3300 to the downside.
USD/CHF: As forecasted earlier, the price on this pair did break out of the upper price level and moved upwards. Given the position of the indicators right now, the price should breach the market level at 0.9250 to the upside. After that, the next target would be the resistance level at 0.9300.
GBP/USD: The Cable has been weak since the last several weeks, and would continue to be so. So far this week, the price has dropped by more than 270 pips. The indicators in the chart have given a Bearish Confirmation pattern, and therefore, the market would continue falling.
USD/JPY: On the USD/JPY, the initial bullish run seen at the beginning of this week has been rendered useless by the current scenario. The RSI has gone below the 50 level, but the price is yet to go below the EMA 56. As a result of this, no trades are recommended here until a clearer signal is given.
EUR/JPY: The current bearish correction on this cross is serious enough to render the current bullish trend useless, especially if the correction holds on for a few more days. In this week, it can be said that there is no clear victory between buyers and sellers. We would like to wait for a clearer signal before new orders are opened on the cross.
