EUR/USD: This pair closed at 1.3009, and it still has the ability to trend further downwards, for the main bias remains to the downside. The great support line at 1.3000 was tested a few times last week, but the price is expected to succeed in trading below that support line, possibly going towards the support line of 1.2900.
USD/CHF: This currency instrument is in a northward bias as well. There is no reason to call short trades here (especially for as long as the bullish outlook is present). The pair moved upwards by over 100 pips last week, and would probably move higher than that this week, possibly reaching the resistance level at 1.9600.
GBP/USD: This pair fell by roughly 200 pips last week. You see, when it trends, it trends fast; meaning that it either drops very fast or rises very fast. This bias ought to continue, but the only threat against it is the fact that the BoE might possibly have another Governor in the month of July, and the following optimism could help the GBP/USD experience some stamina.
USD/JPY: The northward journey on the USD/JPY is clearly vivid right now. The pair moved upwards by around 120 pips, closing at 99.14. The pair should continue its upward journey this week (by all possibility). It could reach the great psychological supply level of 100.00 soon.
EUR/JPY: This instrument continues to get positively correlated with other JPY pairs, in spite of the inherent weakness in the EUR. The signal on the chart is bullish, though it is precarious. One thing is sure, as other JPY pairs continue to go upwards, the EUR/JPY would follow suit.
