EUR/USD: This is a bull market – a strong market. The target at the resistance line of 1.3950 remains a logical take profit region in spite of the current bearish retracement in the market. Normally, the support line at 1.3900 is a barrier to the bearish retracement. The aforementioned resistance line has been tested, and the price could go back to it to test it again and probably breached it to the upside.
USD/CHF: This is a bear market – a fairly weak market. The target at the support level of 0.8700 remains a logical target area in spite of the current bullish retracement in the market. Normally, the resistance level at 0.8800 is a barrier to the bullish retracement. The aforementioned support level may be tested, and probably breached it to the downside.
GBP/USD: The GBP/USD remains strong. In spite of the shallow bearish retracement in the chart, the target at the distribution territory of 1.7000 is unchanged. The shallow bearish retracement should be contained at the accumulation territory of 1.6900, for any movement below that would pose a serious threat to the bullish outlook.
USD/JPY: The ‘sell’ signal here is still valid. The price is under the EMA 56 and the RSI period 14 is below the level 50. The price should go below the demand level at 101.50; otherwise the southward trend would not be strong.
EUR/JPY: It can be said that the EUR/JPY is in an equilibrium zone, for there has been no determined directional move so far. Some fundamental figures are being expected today, and they would have an impact on the market. Perhaps there could soon be a breakout.
