EURUSD: This is a bullish market with a vivid northward bias on it. There has been much struggle with clear turbulence around the resistance line at 1.3550. Ultimately, the price ought to test the resistance line at 1.3600 (for that is the ultimate target for this week), especially in the face of the continuation of the current bias.
USDCHF: This pair is in a Bearish Confirmation Pattern. The EMA 11 is below the EMA 56 and the Williams’ % Range is around the overbought region, which portends a chance to sell short when the price is high in a context of a southward bias. The support level at 0.9000 would eventually be tested.
GBPUSD: The optimism surrounding this pair is something that would keep on going. In the face of the current northward bias, there would be occasional pullbacks which would, however, be shallow and short-lived. The price would soon be trading above the market territory of 1.6250.
USDJPY: There has now been a confirmation of the sellers’ victory in the market. The USDJPY is trading below the supply zone at 97.50, and the next target to be reached is the demand zone at 97.00. This would be so, should the selling pressure on the market continue as it is.
EURJPY: EURJPY is trading below the supply level of 132.00, going towards the demand level of 131.00. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. While the price could reach the aforementioned demand level, any bullish threats ought not to take the price above the supply level of 132.50.
