EUR/USD: The market remains bearish – although there is yet to be a serious bearish movement this week. The support line at 1.3600 needs to be broken to the downside so that the bearish trend can continue.
USD/CHF: It is still logical to say that this is a bull market. Albeit, the bullish movement so far in this week has been limited, and there is a need for the price to break the resistance level at 0.9000 to the upside so that the bullish run may continue.
GBP/USD: This is also a bear market. The price is trading below the distribution territory at 1.6750, going towards the accumulation territory at 1.6700. The indicators in the chart affirm the possibility of the price going further lower.
USD/JPY: The USD/JPY broke our initial target at 102.00 to the upside. It is now going towards the second target at the supply level of 103.00.The bullish bias is strong at the moment and the price could easily breach the second target to the upside. The demand level at 102.50 has become an immediate barrier to any possible short-term bearish plunge.
EUR/JPY: This currency trading instrument remains strong. The EUR itself is not strong but it is perceived that the JPY is even weaker than the EUR. This reality has resulted in a Bullish Confirmation Pattern in the chart: the EMA 11 has crossed the EMA 56 to the upside and the RSI period 14 is above the level 50. The price has already broken above the demand zone at 139.50, going towards the supply zone at 140.00, which is now an easy target.
