EURUSD: In spite of the current range-trading on this pair, it is still in a bullish mode. The market line at 1.3100 is a serious barrier to the bulls’ interest, but that line would soon be breached to the upside. After this, the EURUSD pair would go upwards towards the resistance line at 1.3150.
USDCHF: Having moved downwards by almost 130 pips this week, this pair is in a bearish mode. The indicators on the chart are in support of the bulls’ supremacy. The support level at 0.9400 is the ultimate target for this week (though it is possible that the price may go below that target).
GBPUSD: Trending upwards so far by 170 pips, anyone who has targeted about 200 pips on the Cable could easily reach her/his target in this week. The pair is in a serious bullish mode – going towards the distribution territory at 1.5450. This is because it would go forward past the current price territory of 1.5400. Indeed, there is some optimism surrounding this pair.
USDJPY: Since this is a bear market (the price is below the EMA 56 and the RSI period 14 is below the level 50), the price would continue going downwards. One thing to note is that, as it is true of this week and the last week, any rally on the market is a good shorting opportunity.
EURJPY: Like most other JPY pairs, this cross is going south as well. There is a Bearish Confirmation Pattern on the chart: the price may be trading below the demand zone of 130.00 later this week. However, this may not be without some struggle between the bull and the bear.
