EUR/USD: There is a deadly threat to the long-term bearish outlook on this pair. The price has crossed the EMA 56 to the upside and closed above it. Plus the Williams’ Percent Range has reverted back into the overbought territory. There is still a need to wait until the EMA 11 crosses the EMA 56 to the upside before taking a decision.
USD/CHF: There is now a confirmed sell signal on the USD/CHF. The EMA 11 has crossed the EMA 56 to the downside and the price has closed below them. The Williams’ Percent Range is already in the oversold area. Sell and sell short.
GBP/USD: The scenario on the Cable still proffers a unique opportunity to go long when the price is still low. The indicators in the chart now give bullish confirmation patterns. The price could reach the distribution territory at 1.5300 this week.
USD/JPY: There is now a weak correction on this instrument – something that may give an opportunity to buy lower. The RSI period 14 has given a southward indication, but the price action around the EMA 56 is yet to confirm this. Normally, the price is not expected to retrace lower than the market level at 95.00, otherwise, the current bias would be seriously jeopardized.
EUR/JPY: There is also a weak retracement on this cross, and it can become a threat to the existence of the uptrend on the cross. The RSI period 14 has already gone below the 50 level, but the EMAs 11 and 56 are yet to support that. Any break below the support zone at 123.00 would mean the end of the bullish trend.
