EUR/USD: As indicated by the Bearish Confirmation Pattern in the chart, the pair is weak and would continue to trend lower. The weakness of the EUR/USD is expected to continue irrespective of any short-term rallies in the market. The price would soon test the support line at 1.3500.
USD/CHF: As indicated by the Bullish Confirmation Pattern in the chart, this pair is strong and would continue to trend upwards. The strength of the USD/CHF is expected to continue irrespective of any short-term bearish corrections in the market. The price would soon test the resistance level at 0.9150.
GBP/USD: Surprisingly (though it is not new), this market has assumed a bullish bias and it may start putting more effort to go further northward – as engineered by the bulls. It is possible that the weakness of the EUR/USD might indirectly cause a limited bullish movement in the market, but the price could reach the distribution territory at 1.6500.
USD/JPY: The vagary of the USD/JPY is gradually becoming a major source of concern. Recent bullish and bearish signals have proven to be short-lived and unreliable. A movement would happen suddenly and not when expected; and when a new bias is confirmed, a reversal would soon occur. At the present, a bullish signal is in place and it seems logical for one to take a profit at 105.00.
EUR/JPY: This cross has been able to maintain it bearish bias, and rallies have always been opportunities to sell short here. There is a barrier the bullish attempts at 142.00. Meanwhile the price could fall further before reaching there.
