EUR/USD: The bullish attempts on this pair, which have been going on for a long time, have already resulted in success for the bulls. The support level at 1.3600 was breached violently to the upside; plus the price would inevitably close above it. The Bullish Confirmation Pattern in the chart is relatively novel – buyers can join a great northward ride.
USD/CHF: The inability of the USD/CHF to break the resistance level at 0.9000 to the upside after a long siege has resulted in a smooth bearish plunge. The smooth bearish plunge has in turn, resulted in a new Bearish Confirmation Pattern. This is the beginning of a protracted bearish journey.The price may eventually reach the support level at 0.8900, having broken the resistance level at 0.8950 to the downside.
GBP/USD: It is interesting that this market has succeeded in breaching the accumulation territory at 1.7000 to the upside. While this article was being prepared, the market was nosing above the mentioned accumulation territory, and it has a high probability of closing above it, affter which the next target would be the distribution territory at 1.7050.
USD/JPY: This currency trading instrument has crossed the EMA 56 to the downside; plus the RSI period 14 has also crossed the level 50 to the downside. The weakness of the USD is now vivid and the price could test the demand level at 101.50.
EUR/JPY: Because of the strength in the EUR, this cross has been able to maintain the rally it has started since the beginning of this week. Unless the price closes above the demand zone at 139.00, there would not be a confirmation of a bullish bias.
