EUR/USD: Despite the fact that the pair is currently experiencing a sharp correction, the bullish outlook is still valid here. As long as the price is above the support line of 1.2900, the northward possibility is valid. The current price action therefore proffers a great buying opportunity.
USD/CHF: In the face of the extant rally in the market, the USD/CHF still has some bearish potential. This means that the sell signal in the market is valid. As long as the price is below the resistance level of 0.9700, the bearish outlook holds. So for this week, one would do well seeking long trades only.
GBP/USD: There is no reason to short this pair for now, especially as long as the price is still above the accumulation territory of 1.5100. The only thing that can render the recent bullish signal invalid is a situation in which the price goes below the aforesaid accumulation territory. Until then, the price would go upwards.
USD/JPY: For the most part of the last week, this pair was in a southward mode. This fact remains as the price is making an attempt to breach the great market level at 100.00 to the downside. Should the USD continue its weakness, this possibility may become a reality.
EUR/JPY: The recent bullish signal on this cross has already turned out to be something bogus. Therefore, in line with what has happened about 2 weeks ago, the outlook on the cross is now bearish, and that is what may be taking place for the most part of this week. The price could reach the demand zone of 129.00 this week.
