EUR/USD: The EUR/USD has been able to reach our weekly target at 1.2450. The price has even gone far below that level, owing to the continuous stamina in the USD. The price now targets the support line at 1.2350, which might be breached today or early next week.
USD/CHF: The USD/CHF has been able to reach our weekly target at 0.9700. The price has even gone beyond that level, owing to the continuous stamina in the USD. The price now targets the resistance level at 0.9750, which might be breached today or early next week.
GBP/USD: This is also a weak market, with a drop of 180 pips so far this week. The price is now trading below the distribution territory at 1.5850, going towards the accumulation territory at 1.5800.
USD/JPY: There is still a clean Bullish Confirmation Pattern in this market, as the Greenback continues to maintain its strength. The price may end up testing the supply level at 115.50 again: though the risk of a pullback is now very high, for the market has been in an overbought condition for a long time.
EUR/JPY: There is a shallow pullback in this market, though the overall bias is still bullish. The EMA 11 is above the EMA 56 and the RSI period 14 is above the level 50. Should the RSI period 14 cross the level 50 to the downside, the bullish bias would be under a threat.
