EUR/USD: It is essential that this market stays above the price line at 1.3750 for the bulls to continue to maintain their supremacy. A probable sharp pullback does not mean the end of the bulls’ supremacy, as long as it is transient. It is still possible for the market to reach the resistance line at 1.3800.
USD/CHF: It is essential that this market stays below the resistance level at 0.8900 for the bears to continue to maintain their supremacy. A probable sharp rally does not mean the end of the bears’ supremacy, as long as it is transient. It is still possible for the market to reach the support level at 0.8850.
GBP/USD: The Cable has been trending gradually downwards this week, but that can be checked at the accumulation territory of 1.6600. Any movement below the accumulation level would render the bullish outlook invalid; whereas as long as the price is above the accumulation level, the bullish outlook is intact. In addition, more fundamental figures are coming out later today and they will have impact on the markets.
USD/JPY: This pair, in spite of the desperate bullish attempt that was carried out on it this week, has formed another bearish signal. However, the bearish signal is expected to be limited, not going beyond the demand level of 101.00, because it is assumed that the price could rally significantly from there.
EUR/JPY: This is a bull market and the current southward retracement is seen as a sale in the context of an uptrend. This uptrend remains valid as long as the price is above the EMA 56: the price can go upwards any time.
