EURUSD: The EURUSD pair shot upwards in a significant mode this week, reaching as high as the resistance line at 1.3550. The range movement on the chart is simply a pause in the price, for it would resume its northward journey from there (whether today or next week).
USDCHF: Here, the EMA 11 is below the EMA 56, and the Williams’ % Range is in the oversold territory. This shows that the Bearish Confirmation Pattern on the chart is a force to reckon with. The support level at 0.9000 is being challenged, and it could possibly be overcome.
GBPUSD: The bearish correction on the cable is something normal. The pullback gave an opportunity to enter at better prices, for the bullish outlook on the chart is still valid. There are immediate accumulation territories at 1.6000 and 1.5950, which could potentially serve as barriers to bearish pulls.
USDJPY: The significant bearish run that occurred on this currency instrument was a panic sell-off. This panicky reaction was checked at the demand level of 98.00: the price skyrocketed from there and ended up trading above the EMA 56 (while the RSI period 14 crossed the level 50 to the upside). This is a bullish signal.
EURJPY: On this market, the outlook is bullish. The near-term target is at the supply zone of 135.00; whereas the near-term barrier to any southward attempts is at the demand zone of 134.00. Following the current consolidation in the market, it is expected that the price would rise up from there.
