EUR/USD: From the support line at 1.3700, this market has moved upwards by roughly 190 pips. The weakness in the USD/CHF is giving the EUR/USD a good leverage, plus the market would go upwards as long as the USD/CHF is weak. The resistance line at 1.3900 is now subject to the bulls’ assault.
USD/CHF: The USD/CHF has been weak this week. The support level at 0.8750 would be easily breached to the downside.As the price goes further downwards, the next target to be breached would be the support level at 0.8700. That support level is significant enough to halt the southward plunge temporarily, but with an increase in the southward momentum, the support level would also be violated.
GBP/USD: There has already been a significant northward surge in the Cable. The upsurge has been halted temporarily at the distribution territory of 1.6800. This has resulted in a temporary pullback, which should be an opportunity to buy long at a slightly cheaper price.
USD/JPY: As it was forecasted, the demand level at 101.50 has already been tested and breached to the downside. Even if the price closes below it, and with an increase in the selling pressure, the market is bound to go further downwards.
EUR/JPY: There is an established bearish outlook on the market, though things have been very volatile lately. There are short-term rallies in the market, and these kind of rallies are short-selling opportunities. As long as the price is under the supply zone at 142.000, the bearish outlook is valid.
