EURUSD: This pair has moved upwards close to 120 pips during this week, testing the resistance line at 1.3400. Since the price tested the aforementioned resistance line, it has been experiencing some minor bearish correction. However, with the continuation of the bulls’ strength, the resistance line would eventually be breached.
USDCHF: USDCHF has moved downwards roughly 100 pips in this week, being currently around the market level of 0.9200. Since the price has tested the aforementioned resistance line several times, it has been experiencing some minor bullish correction. However, with the continuation of the bears’ strength, the market level would eventually be breached to the downside.
GBPUSD: Both EURUSD and GBPUSD have been bullish so far in this week: with GBPUSD moving upwards more significantly than EURUSD. The GBPUSD has moved upwards by more than 300 pips this week and that could be the beginning, especially in the face of the possible continuation of the bullish determination.
USDJPY: This pair has dropped by more than 310 pips this week, reaching the demand level at 96.00. Hence, the price bounced upwards by 100 pips, but it could not go higher than the supply level of 97.00. This is a good short-selling opportunity. Hopefully, the price could go further downwards to test the demand level at 96.00.
EURJPY: The bullish reversals on the JPY pairs do not render invalid bearish outlook on them. Yes, the Bullish Confirmation Pattern in the chart is still a valid thing. The market zone at 129.50 might serve as a short entry level for a Sell Limit order with a 100-pip stop – a good bargain.
