EUR/USD: The situation on the EUR/USD is now very precarious, but it is still expected that the pair would go south. So the present shallow bullish attempt may be a good opportunity to go short. Generally, it may be said that the bearish propensity in this market is valid as long as the price is not able to break the resistance line at 1.2750. Any movement above that resistance line would mean the beginning of a bullish bias, but should the price fail to go above it, there may be a renewed bearish dive.
USD/CHF: The situation on this currency trading instrument is currently not stable, but it is still expected that the price would go north. So the present shallow bearish attempt may be a good opportunity to go long. Generally, it may be said that the bullish propensity in this market is valid as long as the price is not able to break the support level at 0.9450. Any movement below that support level would mean the beginning of a bearish bias, but should the price fail to go below it, there may be a renewed rally in the market.
GBP/USD: The Cable still shows the determination to go upwards. The buying pressure could take the price towards the distribution territories at 1.6150 and 1.6200 – which are the targets for this week. Meanwhile, the accumulation territory at 1.6050 should serve as a good barrier to bearish attempts.
USD/JPY: The bullish outlook on the USD/JPY is still a valid thing. Although the price has not moved upwards significantly this week, it may soon test the supply level at 108.50.
EUR/JPY: The outlook on this cross is also bullish for this week – as it is expected of all JPY pairs. The price also can test the supply zone at 138.00 this week.
