EURUSD: The EURUSD pair is still in a bullish mode, as suggested by the indicators on the chart. The price line at 1.3400 is a forgone conclusion: the pair would soon be trading above it as it goes towards the resistance line at 1.3450. It is suggested that one should only seek to go long.
USDCHF: This pair has been consolidating to the downside in the context of a downtrend. The downtrend is still very much valid and it is assumed that when significant moves resume, they would be in the direction of the downtrend. The support level of 0.9150 is being looked forward to.
GBPUSD: This instrument has experienced a serious pull-down which could potentially jeopardize the extant primary trend (which is a bullish trend). The RSI period 14 has gone below the level 50, though the EMAs still support a bullish outlook. Since there are mixed signals on the chart, it is better to wait for a clearer direction before taking a trading decision.
USDJPY: There is a clean ‘sell’ signal on this chart, following the recent short-term rally on the market. The RSI and the EMA both support the bearish outlook and it is nice to seek a short trade now. There is a barrier at 95.00, but the price would soon be trading below it.
EURJPY: The serious threat that happened against the major trend has been a harbinger of a clean ‘sell’ signal – as supported by the indicators. The cross went upwards by over 200 pips this week, but it should probably give up the gains before the end of the week.
