EUR/USD: On this pair, trading last week closed with a small rally in the context of a downtrend. Since then, the price has assumed another leg of bearish journey and the price may test the support line at 1.3350.
USD/CHF: On this pair, trading last week closed with a sale in the context of an uptrend. Since then, the price has assumed another leg of bullish effort and the price may test the resistance level at 0.9100 again. In fact, there is a need for that resistance level to be breached to the upside as the price closes above it. This is what can make the bullish journey continue.
GBP/USD: The Cable is now trading below the distribution territory at 1.6800. The next target in the context of the extant bearish bias is the accumulation territory at 1.6750. Should the bearish movement become strong enough, the price may even reach the accumulation territory at 1.6700. Meanwhile, the possibilities of rallies ought not to take the price above the distribution territories at 1.6850 and 1.6900.
USD/JPY: The price action in the market reveals an ongoing serious battle between the bulls and the bears, with the bulls flexing their muscles. The bias is still bearish but the market should not take the price above the supply level at 102.50, so that the current bias would not be rendered invalid.
EUR/JPY: The situation on this cross is nearly similar to the situation on the USD/JPY. After testing the demand zone at 136.50, the price bounces upwards, going towards the supply zone at 137.00. That supply zone ought to act as an impediment to the bulls’ threats; otherwise the bearish outlook would become illogical.
