EURUSD: The weak bullish correction on EURUSD would give a good opportunity to sell short at a dearer price in the context of a downtrend. The downtrend is still intact, and the price is not supposed to go above the resistance level of 1.3100. The indicators on the chart support a bearish outlook.
USDCHF: USDCHF is experiencing a pullback – since the beginning of this week. The pullback is not yet significant enough to violate the current bullish outlook, unless it continues for a few more days. The EMA 56 and the EMA 11 still support a bullish outlook, though the Williams’ % Range is heading downwards.
GBPUSD: In spite of the very weak rally of the cable, there is no reason to go long here. There is still a vivid bearish trend on the chart, and this is clearly supported by the indicators (the EMAs 11 and 56, plus the RSI period 14). The current weak rally is an opportunity to sell.
USDJPY: USDJPY trended upwards at the beginning of this week, but it is now experiencing a pullback. The pullback should, at worst, be contained at the price level of 95.00; otherwise there could be some threat to the major northward bias. Until then, the scenario here is towards the north.
EURJPY: In a similar fashion to its USDJPY counterpart, this unique cross is also experiencing some pullback. This, at worst, is not supposed to go below the prize zone at 124.00. If it does, a threat to the primary trend (which is bullish) might begin.
