EUR/USD: Here, there has been some rally in the context of a downtrend. The rally is serious enough to pull the Williams’ Percent Range towards the overbought territory, and the EMAs as well are under attack. Should the price go above the resistance line at 1.2950, it could lead to the invalidation of the current bearish outlook.
USD/CHF: The bullish outlook is vivid on this pair and in spite of the sideways movement so far this week, there is still some bullish determination in the market. One barrier to further bullish run is the resistance level at 0.9750 (which has been tested a few times). It is hoped that that resistance level should be violated to the upside for the northward outlook to continue to hold.
GBP/USD: All eyes are on the Cable as there is going to be some power shift in the Bank of England very soon. For the first time in the history of England, someone who is not their citizen would become governor of the Bank of England. The currently weak price may not go below the accumulation territory of 1.5100, before going upwards.
USD/JPY: So far this week, the USD/JPY has moved in a range. The bullish bias is, however, still valid, for the indicators in the chart confirm this. As the previous price history shows; when there is a breakout, it is going to the upside.
EUR/JPY: The cross is in a bullish mode – whether weak or strong. The price is trading above the price zone of 132.00. And since the indicators in the chart give a Bullish Confirmation pattern, it is reasonable to think that the price would continue to go upwards.
