EUR/USD: There is still a Bullish Confirmation pattern in this chart, as the Williams’ Percent Range moves very near to the overbought territory. The resistance line at 1.3300 was tested last week, and it could be tested again very soon – even possibly breached to the upside as the price goes further northwards.
USD/CHF: The USD/CHF is weak, and the weakness is expected to continue this week. At the close of the market last Friday, there was a slight rally in the context of an uptrend. That rally nevertheless failed to take the price higher than the resistance level of 0.9400. From this level, the price would plummet further.
GBP/USD: The optimism around the Cable would continue to drive the price further upwards. Since big fluctuations and volatility are expected this week, it would possibly be in favor of the bulls. The northward bias is still very much extant, and the price is expected to end up trading above the distribution territory of 1.5650 this week.
USD/JPY: There was a bearish indication on this market recently, but that indication has been rendered ineffectual by the upward surge that began last Friday. The RSI has crossed the 50 level to the upside. Should the price end up crossing the EMA 56 upwards, a new bullish indication would come in place.
EUR/JPY: The optimism surrounding the EUR and the GBP are driving bullish biases; even on the JPY pairs. So the price action on this cross is understood. This has rendered the last bearish signal useless, but one would need to wait for further confirmation before one takes a side.
