EURUSD: This pair has been characterized by indecision, though things look a little bearish. This is because the price did not closed above the EMA 56, and the Williams’ % Range is still close to the oversold area. With the resumption of the bearish move, the price could reach the support line at 1.3450.
USDCHF: This currency instrument is experiencing some pullback at the moment, although the Bullish Confirmation Pattern is intact. This is confirmed by the indicators in the chart. There is an immediate support to the market at 0.9100. The price should not go below the support level of 0.9050, for this bias to continue to be valid.
GBPUSD: On the Cable, and in the face of the current bearish scenario, there is a corrective movement towards the north. However, the bearish outlook is still valid, for the RSI period 14 has not crossed the level 50 to the upside, and the price itself is below the EMA 56 (which is acting as a barrier to the bulls’ interest).
USDJPY: USDJPY is trading above the demand level of 98.00, and challenging the supply level of 98.50. Should the current bullish bias continue in the market, the supply level of 98.50 would be easily overcome. The price could end up reaching the supply level of 99.00.
EURJPY: This week so far, this cross has traded upwards significantly. The price first moved in disorderly volatility (between Monday and Wednesday), before it finally bowed to the pressure from the bulls. Now trading above the demand zone of 133.00, the price looks poised for a stroll towards the supply zone of 133.50.
