EURUSD: The pair trended upwards, but further bullish attempts were rejected at the resistance line of 1.3200. From there the market dropped by almost 200 pips, reaching the support line of 1.3000. The outlook on the market remains bullish and one would do well to go long as soon as the price rallies further.
USDCHF: The USDCHF pair was given some measure of stamina yesterday. The price was unable to touch the support level at 0.9200 before it shot upwards by roughly 120 pips, going above the price level of 0.9300. The bias remains bearish and one would do well to look for shorting areas on the chart.
GBPUSD: The trend on the cable has turned bearish. So far in this week, the price has gone down by around 120 pips. There is a ‘sell’ signal in the market (arriving out of the new Bearish Confirmation Pattern). The EMA 11 has crossed the EMA 56 to the downside and the RSI period 14 has gone below the level 50.
USDJPY: Since Tuesday (April 16, 2013), the USDJPY pair has been trading sideways. There are mixed signals on the chart – the RSI period 14 is below the level 50 whereas the price is above the EMA 56. Since the market is moving sideways and the indicators do not agree, it is better to stay out of the market until a clearer signal is generated.
EURJPY: This instrument went upwards, following the massive sell-off that took place on Monday. Yet, the price has been unable to reach the last week’s high (just as it has been predicted). The current signal on the market is unclear, so one would do well to stay indifferent until there is a clear signal.
