EUR/USD: This currency trading instrument is still making an attempt to continue its rally in the context of a downtrend. The Williams’ % Range is already in the overbought region, and as soon as the price goes above the resistance line at 1.2700, the downtrend would be over.
USD/CHF: This pair would continue to be weak as long as the EUR/USD is strong. Nevertheless, the price would need to cross the support level at 0.9500 to the downside so that a Bearish Confirmation Pattern may be formed in the chart.
GBP/USD: The Cable still shows the determination to continue going upwards, though the long-term bearish outlook is not yet invalidated. For the long-term bearish outlook to be invalidated, the RSI period 14 must cross the level 50 to the upside and the EMA 11 also must cross the EMA 56 to the upside. At this time, the price could have crossed the distribution territory at 1.6200 to the upside.
USD/JPY: The USD/JPY continues its weakness. The price has tested the demand level at 108.00, threatening to break it to the downside. Should this happen, the next target would be the demand level at 107.50.
EUR/JPY: This is also a bear market, which almost tested the demand zone at 136.50. Only enough strength in the Euro, coupled with enough weakness in the Yen, can make this cross trend upwards. While the bearish continuation can take the price towards the demand zone at 136.00, any considerable rally may enable the supply zone at 137.50 to get tested.
