EUR/USD: This pair has been able to reject bearish propensity on it as it traded upwards in a significant mode, eventually generating a clean bullish signal. There is a Bullish Confirmation Pattern on the chart, and the price could go on towards the resistance line at 1.3100, either today or early next week.
USD/CHF: The USD/CHF plummeted by almost 300 pips, from the weekly high of 0.9750. The price is now trading below the EMAs 11 and 56, as the Williams’ % Range goes towards the oversold area. In effect, the Williams’ % Range indication of the oversold area means the market is weak and would thus continue trending downwards.
GBP/USD: It can now be said that some noteworthy optimism has returned to start affecting the Cable. Could this be called Mr. Carney’s effect? The time would tell whether the new bullish bias would be sustained. In reality, there is a confirmation of the northward possibility in the market.
USD/JPY: Since the bearish signal has been indicated on this market, the price has become volatile and it has traded sideways in a volatile manner. The demand level at 98.00 is the ultimate target, provided that the selling pressure continues. Meanwhile, the supply level at 100.00 is a barrier to any bullish attempt.
EUR/JPY: This cross remains in its indecisive situation – for there is no clear signal in the market yet. There is currently no victory between the buyers and the sellers. This is because both the EUR and the JPY are a kind of strong, and one would need to be stronger than the other for the market to go upwards or downwards.
