EUR/USD: The EUR/USD has now carried a long signal on it. Following a serious battle between the bear and the bull, the market went upwards by roughly 280 pips last week. There is a Bullish Confirmation pattern in the chart, and the price could go as far as the resistance line at 1.3100 in this week.
USD/CHF: After some protracted ranging movement on this pair, it finally decided which way it would go. There has been a Bearish Confirmation pattern in the chart (as the pair skydived last week, showing a bearish weekly candle in the weekly chart). The probability this week is to the downside and the price could reach the support level at 0.9250.
GBP/USD: From the accumulation territory of 1.5032 (the weekly low), the Cable trended northwards and topped at the distribution zone of 1.5362. This is a movement of roughly 330 pips! There is a Bullish Confirmation pattern in the chart, as the EMA 11 is now vividly above the EMA 56 (the RSI period 14 is above the 50 level). The next price target could be 1.5450.
USD/JPY: The USD/JPY sprinted northwards by close to 500 pips last week. This kind of move (which started from the middle of the last week) was rather extraordinary. Therefore, there could be some bearish corrections taking the price towards the demand levels at 97.00 and 96.50. However, this week should be bullish – which means that further upwards journey is expected.
EUR/JPY: Last week, the EUR/JPY skyrocketed by nearly 800 pips. In the short term, there could be some pullbacks, taking the price towards the demand zones of 126.00 and 125.50. But this week, the price could eventually go further northwards and touch some supply zones at 128.00 and 129.00.
