EUR/USD: After testing the support line at 1.2300, this currency pair shot upwards, reaching the resistance line at 1.2450. It is really a break above the resistance line at 1.2500 that can lead to a possibility of forming a bullish bias, otherwise, this could be a wonderful opportunity to go short again.
USD/CHF: After going above the resistance level at 0.9750, this pair retraced southwards, reaching the support level at 0.9650. It is really a break below the support level at 0.9600 that can lead to a possibility of forming a bearish bias, otherwise, this could be a wonderful opportunity to go long again.
GBP/USD: This market did not make any major move yesterday – unlike EUR/USD. The outlook remains downwards on the Cable – the EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50. Price may go downwards below the accumulation territory at 1.5600. Otherwise, price may shot upwards.
USD/JPY: USD/JPY is now trading above the demand level at 119.50, having tested the supply level at 120.00. With ongoing strength in the market, the supply level at 120.00 may be broken to the upside, and price may close above it. In addition, strong fundamental figures are expected today and they will have a big impact on the market.
EUR/JPY: A sudden surge of energy in the market has made this cross to break out in a serious manner. Price is now close to the supply zone at 148.50, and with further stamina in the market, the long-awaited supply level at 149.00 would be touched soon. During the upward breakout, the supply zone at 149.00 was almost tested.
