EUR/USD: There is a dip in the price, though it can be seen that the bulls have upper hands. Unless the price closes below the support line at 1.3800, the price could still go further upwards. The upside target is at the resistance line at 1.3900. The noteworthy upswings and downswings in this market have made it necessary to employ some tact here. Tight stops are not recommended right now, plus one may need to buy occasional dips.
USD/CHF: This pair has been able to recover its loss this week. The current rally in the market has almost rendered the recent bearish outlook useless. The Williams’ % Range is in an overbought region: the price could be corrected downwards. Should this expectation fail, the price could breach the resistance level at 0.8850 to the upside.
GBP/USD: The Cable is still able to maintain its bullish bias in spite of the recent consolidation. The price is currently challenging the distribution territory at 1.6850, which could be breached to the upside. When this happens, the price could aim another distribution territory at 1.6950.
USD/JPY: This currency trading instrument is now trading above the demand level at 102.50, going towards the supply level at 103.00. The current Bullish Confirmation Pattern may even take the price beyond that, in favor of the bulls.
EUR/JPY: The northward bias is still valid on this cross. The EMA 11 is above the EMA 56 and the RSI period 14 is above the level 50. There is a barrier to a significant correction at the demand zone of 141.50. Meanwhile, the price could go above the supply zone at 142.00.
