EUR/USD: This pair is bullish in the medium-term, but bearish in the short-term. The price had not breached the resistance line at 1.3700 before it got corrected lower. The lower correction is now being challenged at the support line of 1.3650, and should that challenge prove successful, the price would go further upwards from that point.
USD/CHF: In spite of the weak rally on this pair, the bearish bias is valid. The weak rally should be contained; remaining below the EMA 56 (at least the ‘sell’ signal would be valid as long as the price stays below the EMA 56). Meanwhile, the price should move further downwards back to the support level at 0.8850.
GBP/USD: This Cable remains a strong market. The price is around the territory at 1.7150, and should go further upwards towards the distribution territory at 1.7200. This is not an easy thing, but it would be possible as the GBP continues to be strong and the USD continues to be weak. It can be noted that the market has been going up for weeks without extremely strong retracements.
USD/JPY: The USD/JPY has assumed a clean bullish bias; and the price would soon hit the supply level at 102.00. The price is above the EMA 56 and the RSI period 14 is above the level 50. Therefore, the bullish bias is supposed to continue. In addition, strong fundamental figures are expected today and they would have huge impact on the markets.
EUR/JPY: After several tests of the demand zone at 139.00 (it was previously a supply zone), this cross broke upwards, which is a sign of enough weakness in the Yen, for the EUR itself is not very strong. The price should move further upwards from here.
