EUR/USD: Unlike what is happening on the JPY pairs, the EUR/USD has not really assumed any significant directional bias, although it is more likely that the price would go north when momentum does return to the market. It is safe to assume a possible northward move as long as the price is above the support line at 1.3700.
USD/CHF: From the support level at 0.8800, this pair has moved upwards by over 90 pips. This perpetual rally now poses a threat to the recent bearish scenario and any move above the support level at 0.8900 would mean a clean violation of that scenario as a new ‘buy’ signal forms. By that time, the EMA 11 itself would have crossed the EMA 56 to the upside.
GBP/USD: As expected, there has been a bullish breakout on this currency trading instrument, though the breakout is not that significant. At the present, there is a slight bearish retracement that would well be contained at the accumulation territory of 1.6650 (should the price test it). This accumulation territory is a good entry point for those seeking new long trades.
USD/JPY: The USD/JPY reached our initial target at 102.50, and it is now going to our second target at the supply level of 103.00. The Bullish Confirmation Pattern in the chart ensures that the buying pressure continues for as long as it is valid. More economic figures would be released today and they would generally have impact on the markets.
EUR/JPY: This market is now an established bull market and it is determined to continue going northward. The price zone at 141.00 is now being challenged and the market would reach another supply zone at 141.50.
