EURUSD: This pair shows what happens in a weak market in a vivid manner. One support line has been broken after the other; and there is no end in sight. Occasional rallies in the price would mean opportunities to go short. The price may easily test the support line at 1.3150, and eventually go downwards toward the support line of 1.3100.
USDCHF: Since the current Bullish Confirmation Pattern in the chart formed last week, the pair has moved upwards by 140 pips. Right now, the price is trading above the support level of 0.9350, going towards the resistance level of 0.9400. The support level at 0.9350 is thus a barrier to short-term bearish attempts.
GBPUSD: The Cable remains a ranging market, with a slight consolidation to the upside. The indicators in the chart suggest certain bullish propensity, and as a result of this, when there is a breakout in the price (as it is bound to happen), it is more likely that it would be towards the upside.
USDJPY: In bullish mode, USDJPY is trading above the demand level of 99.50. Therefore, the supply level of 100.00 is an easy target. Normally, a rise in momentum would be followed by a pause in it, before the momentum is resumed, usually in the direction of the dominant bias.
EURJPY: In spite of the turbulence, which is extant in this currency instrument, there is still an indication of the bullish supremacy. So, when the momentum is resumed on the market, it would be towards the upside. The supply zones at 131.50 and 132.00 respectively stand to be violated.
