EUR/USD: This pair has already moved upwards by over 250 pips this week, starting from the support line at 1.1100. A movement above the resistance line at 1.1500 would render the existing dominant bias (bearish) useless, as another long-term bullish journey may begin.
USD/CHF: As it is expected, this special pair has moved upwards this week – in a slow and gradual manner. The price has moved upwards by more than 400 pips, topping at 0.9161 before the current minor retracement. The top at 0.9161 is expected to be breached upwards this week or next week, allowing further bullish movement in the market.
GBP/USD: The Cable has moved upwards so far this week, putting the recent bearish outlook in jeopardy. From the accumulation territory at 1.5000, the price has moved upwards by more than 200 pips, pushing against the distribution territory at 1.5200. A movement above the distribution territory at 1.5300 would mean the end of the recent bearish outlook.
USD/JPY: It is better to assume a short-term trading approach in this market, because the price is now swinging up and down on short-term basis. There is a supply level at 119.00 and a demand level at 117.00.
EUR/JPY: Despite the fact that this market has moved upwards by more than 400 pips this week, it remains a bear market. The EMA 56 is above the EMA 11 and the RSI period 14 is still below the level 50. Unless the price goes above the supply zone at 136.00, the signal is “sell.”
