EURUSD: There is a Bullish Confirmation Pattern in the chart; the pair has broken out in a serious directional movement (to the upside). There would be some minor southward pulls, but the price would end up challenging the resistance line at 1.3600. It may end up overcoming it.
USDCHF: In a sharp contrast to the EURUSD, this currency instrument has dropped like a stone in respect of the extant bearish bias in the chart. As it was forecasted recently, the support level at 0.9100 is now being challenged and could be breached to the downside, as the price moves towards another support level at 0.9050.
GBPUSD: The directional breakouts that were forecasted are here. For example, the Cable shot sky-high and broke the distribution territories of 1.6000 and 1.6100 to the upside. The fundamental figures coming out today will add more to the directional momentum in the markets. The next target to be reached is the distribution territory at 1.6200.
USDJPY: This pair traded downwards on Wednesday towards the demand level of 98.00. The price bounced upwards from that level as a result of an exponential weakness in the yen. Nevertheless, the EMA 56 would act as a barrier to the bulls’ aspiration.
EURJPY: It was expected that the breakout expected here would be towards the upside. That is how it has happened for the bullish bias (even when the cross was moving protractedly sideways). The market has moved northwards by roughly 200 pips this week and this seems the beginning.
