EUR/USD: This pair remains bearish and it is thought that the current weak rally would end up driving the price further southwards. The target for the bears is still located at the support line of 1.3500. The rally should not go above the resistance line at 1.3600; otherwise the bearish outlook would be jeopardized.
USD/CHF: Just like what the EUR/USD was doing in an opposite manner, the market tested the resistance level at 0.9000, but it was unable to break it to the upside - something that needs to be done if the bullish trend must continue.
GBP/USD: There are interesting developments in the markets. For example, from the accumulation territory at 1.6750, the Cable rallied by up to 190 pips. The price is now trading above the accumulation territory at 1.6900, going towards the distribution territory at 1.6950. Recently, the market was unable to journey protractedly in one direction, but right now, there is a significant Bullish Confirmation Pattern in the chart. The price would continue to move higher, but there would surely be some pullbacks on the way.
USD/JPY: This currency trading instrument has gone bearish; with an established southward bias. The price is now trading below the EMA 56 (below the supply level at 102.00). The RSI period 14 is below the level 50. Sell trades are advised.
EUR/JPY: The cross has managed to break the formerly demand zone at 138.00 to the downside. The market, which has gone down by over 200 pips this week, would end up hitting the demand zone at 137.50.
