EUR/USD: The bullish signal on this market is far from over. The resistance line at 1.3900 was tested last week, and it would simply be tested again this week. That resistance line also stands the probability of being violated to the upside, plus the price would then close above it.
USD/CHF: From the beginning of February 2014, there has been a perpetual bearish signal on this market, though there are also some bogus ‘buy’ signals along the way. Since early February 2014, the price has dropped by less than 300 pips; yet anyone who had gone long would have been stopped out repeatedly or sustained considerable negativity. The tardy southward move has the potential to test our target at the support level of 0.8750. Would the USD/CHF ever reach parity in the few years to come?
GBP/USD: With the EMA 11 below the EMA 56 and the RSI period 14 below the level 50, the Bearish Confirmation Pattern in the chart continues. With a renewed selling pressure, the price may soon be trading below the accumulation territory at 1.6600.
USD/JPY: In spite of the recent pullback, the bullish outlook on the USD/JPY is still valid. The price could test the supply level at 103.50. The ostensible thing to do here is to seek only long trades. The demand level at 102.50 is a short-term hurdle to further bearish threat.
EUR/JPY: On this cross, the bearish retracement that started late last Friday (March 7, 2014) has pushed the price down by well over 100 pips. However, the bullish outlook is intact and the price has the possibility of going upward.
