EUR/USD: The trend on the EUR/USD is largely bearish; the EMA 11 is below the EMA 56 and the Williams’ Percentage Range is in the oversold area. In spite of the current struggle between the bull and the bear, the price could plummet further towards the support line at 1.2800.
USD/CHF: Here, the trend is bullish, with the EMA 11 above the EMA 56 and the Williams’ Percentage Range going into the overbought territory. Since last week, the price has not been able to cross the resistance level at 0.9500 to the upside, and this is exactly what is anticipated – a break above the resistance level at 0.9500.
GBP/USD: The situation on the Cable requires some skill and patience right now. The price has generally trended downwards this week, posing a serious threat to the primary bullish trend on the market. One would need to wait to see what happens before one takes a position, but normally, the price ought to stay above the market territory at 1.5100, for the bullish trend not to become invalid.
USD/JPY: The pair is still rallying slowly, following the bearish plunge that occurred on Monday. However, the primary trend remains bearish and as long as the price stays below the EMA 56 (and is unable to cross it and close above it), the primary trend remains. The current price action may be proffering an opportunity to sell at a higher price.
EUR/JPY: The EUR/JPY also is largely bearish. The EMA 11 is below the EMA 56 (and the price is below the twain). The RSI period 14 is also below the 50 level. The price is expected to continue in a downtrend, irrespective of the current rally following the bearish plunge that happened on Monday. Eventually, the demand zone at 120.00 would be breached to the downside.
