EUR/USD: The EUR/USD is still a weak pair, with the price going towards the support line at 1.3350. Should the pair become weak enough to break that support line to the downside, the next target in the market would be the support line at 1.3300. There is a resistance line at 1.3400, which should be a barrier to any bullish attempts on the way.
USD/CHF: This is a strong market: the price is above the EMA 11, which is also above the EMA 56. The Williams’ % Range period 20 has always gallivanted around the overbought territory, testifying to the strength in the market. However, the great resistance level at 0.9100 must be broken to the upside, so that the uptrend can continue. Otherwise, there is a downside risk.
GBP/USD: The Cable remains weak. There is a serious battle between the bulls and the bears, but the bears have greater odds of winning the battle again. The trend is bearish, and the trend is not over until it is actually over.
USD/JPY: The perceived strength in the Yen has resulted in a serious challenge to the Greenback stamina. In fact, the bias on this currency trading instrument has turned bearish, and the price could test the demand level at 102.00 again. It could even breach it to the downside.
EUR/JPY: There is now a Bearish Confirmation Pattern in the EUR/JPY 4-hour chart. The price is now trading below the supply zone at 136.50 and it may test the demand zone at 136.00. This week, there has been a drop of over 140 pips: this has put a smile of the face of the astute seller.
