EURUSD: The EURUSD is currently showing some form of weakness, which has already violated the fragile and precarious bullish sentiment. The price has shown the willingness to move further in a bearish mode and the support line at 1.3000 has been broken to the downside. I am bearish on this market.
USDCHF: This pair has shown the ability to reject further bearish pulls, and as such, it is trying to push towards the north. The EMA 11 has crossed the EMA 56 to the upside and the Williams’ % Range is in the overbought situation. This is a Bullish Confirmation Pattern, and the price could reach the resistance line at 0.9450.
GBPUSD: Because the GBPUSD has consistently shown the inability to move significantly toward the north, it is not a surprise that the pair is now nose-diving. It can be safely said that the market has turned bearish since touching the distribution territory at 1.5400. More bearish pressure is thus expected.
USDJPY: As it has always been said, the supply level at 100.00 is a very strong barrier to further bullish attempts on the USDJPY. Last time when the price was above that level was the year 2009. Since the price reached the surroundings of that supply level, it has gone down by close to 120 pips and this downwards move is expected to continue.
EURJPY: About 2 weeks ago this cross touched the supply zone of 131.00 but was unable to go above it. The price has not been able to come upper since then, and as a result of this, the price has gone down by more than 200 pips this week. This is a bias that is expected to continue, for the current long-term bullish outlook to get seriously invalidated.
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