EUR/USD: The EUR/USD pair is also in a downtrend, as it was said at the beginning of this week. The resistance line at 1.3350 has been broken; the price is now trading below it. The next target in the market is the support line at 1.3300. The aforementioned resistance line would be an obstacle to any rallies that may occur along the way.
USD/CHF: In contrast to what EUR/USD is doing, this pair is going upwards. Our target for this week is situated at the resistance level at 0.9100, which could be tested as it was tested last week. With the continuation of the bullish strength, the resistance level could be breached to the upside. Should the price close above that level, the next target would be the resistance level at 0.9150.
GBP/USD: The GBP/USD pair has gone below our target at 1.6650. The currency pair is likely to go towards another accumulation territory at 1.6600. The Bearish Confirmation Pattern in the chart is so strong that the possibility of the downward movement is greater than the possibility of it going upwards.
USD/JPY: This trading instrument is currently strong – a result of the strength in the USD and the weakness in the JPY. The price is trading above the demand level at 102.50, going towards the supply level at 103.00. That supply level is our first target for the week.
EUR/JPY: In the EUR/JPY chart, the market remains flat. It seems that the EUR and JPY have equal strength, and this issue has to go out of balance, so that a trending movement can begin. The RSI period 14 is below the level 50, and therefore, the price has the potential to go south.
