EUR/USD: In spite of the stabilization in the price, followed by limited upswing and downswing within the price range of 1.3500 and 1.3650 (which are support and resistance lines respectively), the bullish bias remains valid. The indicators on the chart even support this – in a Bullish Confirmation Pattern mode. Therefore, it is possible that the price would rise further from here and go on towards the resistance line of 1.3650.
USD/CHF: The weakness of the US dollar against the Swiss franc is very conspicuous right now; plus that weakness against the euro. On the chart, the support level 0.9000 of is now under attack, and should the selling pressure which is in the market holds out long enough, the support level would end up being breached to the downside.
GBP/USD: The Cable is currently a bull market in spite of the fact that the price remains unable to rise further than the distribution territory of 1.6400 – a feat that would eventually be done. This would be possible when the momentum rises again in the market, for the bulls are more likely to be favored.
USD/JPY: The bearish reversal on the USD/JPY has proven relentless, and should it continue further than this, it would be the end of the bullish bias. Generally, the fundamental figures coming out of today would have impact on the markets. The RSI period 14 has already crossed to the downside; and so, it is better to wait until there is a clearer picture before one takes a position.
EUR/JPY: This cross is still in its pullback mode, which is being protracted. But the bullish bias would remain sensibly valid as long as the price is above the demand level of 138.00.
