EUR/USD: This pair moved in a tight range throughout last week without showing any significant move either in favor of the bear or the bull. It is however possible that the breakout away from the current equilibrium zone might be in favor of the bears. Because of this outlook, the bearish bias is assumed for now.
USD/CHF: This instrument moved in a significant manner last week – towards the north. However, further bullish attempt was rejected at the resistance level of 0.9500. At the same time, the price my not retrace below the support level of 0.9400, a level where the price is expected to go higher.
GBP/USD: The Cable has been recently trending northwards – going in that direction by roughly 260 pips. This northward bias is expected to continue this week, but the price would first need to breach the distribution territory of 1.5500 to the upside. As soon as the price succeeds in doing this, the next target would be 1.5600.
USD/JPY: As expected, the price was unable to even touch the supply level at 100.00, let alone breaching it to the upside. I think there must be some highly noteworthy news that would help the price breach this great supply level. Right now, there is a sell signal in the market, and I would prefer some short orders.
EUR/JPY: In this month, the EURJPY cross reached the all-time high of 131.11. However, the price has been unable to revisit this supply zone since then. In spite of the deadly struggle between the bulls and the bears, the bulls seem to have limited capacity. Right now, there is a sell signal in this market.
