EURUSD: There are mixed signals in the market: the Williams’ % Range is in the overbought region, while the EMAs still show the northward possibility. It is either the Williams’ % Range portends a long opportunity in the context of an uptrend, or the price goes below the support line of 1.3400, proving that the bulls are fighting a losing battle.
USDCHF: This pair is essentially a bear market, unless the price breaks the resistance level at 0.9200 to the upside. At that juncture, the current bearish outlook would have been rendered completely invalid. But currently, it is more likely that the price would dive again to test the significant support level of 0.9100.
GBPUSD: This pair is having the same scenario on the EURUSD pair – mixed signals. The RSI period 14 is below the level 50, and the EMAs are yet to support this. It is better to wait for a clearer directional signal. It is either the RSI would go above the level 50 to support the bulls, or the EMA 11 would cross the EMA 56 to the downside to support the bears. Should that happen, the price would be trading below the market territory of 1.5900.
USDJPY: The signal here is bearish, because the recent attempt on this pair to go north has been frustrated. The price is below the EMA 56, and the RSI period 14 is below the level 50; thus, it would be OK to seek short trades, targeting the demand level at 98.00.
EURJPY: The EURJPY pair looks very bearish right now, to the extent of potentially violating the dominant bullish outlook. There is a great possibility of further southward movement, which would lead to a Bearish Confirmation Pattern, should the EMA 11 cross the EMA 56 to the downside.
