EUR/USD: The downtrend on this pair is now vivid – this is the trend for this week. The support line at 1.3500 is about to be breached to the downside, especially after the current pause in the market has panned out. The resistance line at 1.3550 would act as a barrier to any rallies along the way.
USD/CHF: This is a clean bull market: the price is above the EMAs 11 and 56, and the Williams’ % Range is in the overbought region. The present shallow pullback in the market is a normal thing, for the price may turn upwards again before it reaches the support level at 0.8950. However, it is unlikely that the price would reach the resistance level at 0.9000, breaching it to the upside.
GBP/USD: Unlike the weak EUR/USD, this market has been able to maintain the dominant bullish bias to some extent. But there is a clear bearish pressure on it, brought about by its inability to go further upwards. Any movement below the accumulation territory at 1.7050 would mean the end of the bullish outlook.
USD/JPY: The USD/JPY has given way to gravity as it slides downwards. This has resulted in a Bearish Conformation Pattern, and the price could reach the demand level at 101.00. It may not be easy for the price to break that demand level to the downside, but with continued stamina in the Yen, the level may be broken to the downside and the price would close below it.
EUR/JPY: This is a bear market. The RSI period 14 is below the level 50 and the market is now trading below the supply level at 137.00. It would go lower downwards.
