EUR/USD: Since this pair assumed a bullish bias, it has not gone upwards that significantly. An upward move of less than 140 pips is not very significant, plus the price has experienced a mild bearish correction after that. This bearish correction should not take the price below the support line at 1.3550. Should the price move upwards, it could test the resistance line at 1.3650.
USD/CHF: When this currency instrument became bearish, the bearish move has not been very great. The bearish move was less than 100 pips. Following some rally attempts, the market was able to close below the resistance level at 0.8950; and when further bearish movement occurs, it may take the market towards the support level at 0.8900. It should not be forgotten that the resistance level at 0.9000 is a great barrier to the bulls’ interest.
GBP/USD: After testing the accumulation territory at 1.7000, the Cable has been making some attempt to go further upwards. It may thus reach the distribution territory at 1.7050 again, and possibly break it to the upside. The bullish bias is still clear and confirmed; so the odds of the price going further higher are greater.
USD/JPY: The movement on this pair so far has been erratic and unpredictable; therefore intraday and scalping trading methods may be better than swing and position trading methods. Right now, there is a short-term bearish signal in the chart.
EUR/JPY: This cross is still bullish – though the situation is unstable. After a bearish correction, the market is trying to rally and a test of the supply zone at 139.00 would reveal how determined the bulls are.
