EURUSD: It seems this pair may not be able to go above the resistance line of 1.3800, especially in the face of a current lease of strength in the USD. However, this view may not be valid as long as the price is able to stay above the support line of 1.3700, otherwise, one would need to switch to the side of the bears.
USDCHF: It seems this pair may not be able to go below the support level of 1.8850, especially in the face of a current lease of strength in the USD. However, this view may not be valid as long as the price is able to stay below the resistance level of 1.8950, otherwise, one would need to switch to the side of the bulls.
GBPUSD: The protracted bearish correction on the GBPUSD has finally become a bearish signal. From the distribution territory of 1.6450, the price has dropped by over 150 pips. The EMA 11 has crossed the EMA 56 to the downside, and the RSI period 14 has crossed the level 50 to the downside. It is high time one switched one’s position to the side of the bears.
USDJPY: The USDJPY is in the bulls market – irrespective of the bearish threats that are present on it. As long as the price is able to stay above the demand level of 102.00, the bullish bias can still be mentioned of as being valid.
EURJPY: This cross is also in the bulls market – irrespective of the bearish threats that are present on it. As long as the price is able to stay above the demand zone of 140.00, the bullish bias can still be mentioned of as being valid. Should the price go below that demand zone, then one would need to switch to the side of the bears.
