EUR/USD: This pair has suddenly turned bearish following the exponential weakness in the price that was experienced yesterday. From the resistance line 1.3800, the price dropped by more than 150 pips, and it led to a Bearish Confirmation Pattern in the chart. It is probable that the price would go towards the support line 1.3600 again.
USD/CHF: This pair has suddenly turned bullish following the exponential stamina in the price that was experienced yesterday. From the support level of 0.8900, the price rose by more than 130 pips, and it has led to a Bullish Confirmation Pattern in the chart. It is probable that the price will go towards the support line of 0.9050: an area that was tested a few weeks ago.
GBP/USD: The Cable also has gone week, though a Bearish Confirmation Pattern is yet to be formed in the chart. This pattern will be formed when the EMA 11 crosses the EMA 56 to the downside, as the RSI period 14 goes below the level 50 (which has been done). It is advised to allow the EMAs to support the present bearish victory before short trades are sought.
USD/JPY: The USD/JPY started this week in a bullish mode. However, further bullish effort was rejected around the price level 105.46. The pair thus plummeted by over 120 pips leading to a violation of the recent bullish bias. In this chart, a bearish signal has been generated for the price below the EMA 56 and the RSI period 14 below the level 50. It is now better to seek short trades.
EUR/JPY: From the supply zone of 145.00, this cross dropped by over 260 pips. Further southward movement would force the EMAs to confirm this bearish reversal and the bias would turn southward.
