EUR/USD: The EUR/USD pair has only moved sideways from Monday till now and it is better to wait until there would be a break out of the current equilibrium phase. The price would either go above the resistance line at 1.1400 or below the support line of 1.1300. The current bias is bullish, so a breakout to the upside is more likely. Some fundamental figures would be released today and they might have a significant impact on the market.
USD/CHF: the USD/CHF has been consolidating to the upside this week though the bias remains bearish. The price is now close to the resistance level of 0.9600, but there cannot be any threat to the existing bearish bias as long as the price is below the resistance level of 0.9700. Right now, the Williams' % Range period 20 is in the overbought region, but the EMA 11 is yet to cross the EMA 56 to the upside.
GBP/USD: There is still a Bullish Confirmation Pattern in the GBP/USD chart, albeit the price has been corrected a bit downwards. When a breakout does occur, it is more likely that it would be to the upside, since the outlook for the GBP/USD pair is bullish (which might hold true for the rest of the month).
USD/JPY: Since October 15, 2015, the USD/JPY pair has been making some bullish effort. The price has moved upwards by close to 200 pips since then, testing the supply level of 120.00 now. The supply level could be easily breached today or tomorrow. If another supply level of 121.00 is eventually breached, that would harbinger a strong trending movement.
EUR/JPY: An outlook for this pair is still bullish in spite of the fact that the price looks a bit like consolidating. The bullish outlook would hold as long as the demand zone of 135.00 is not breached to the downside. Until that happens, any bearish corrections here would be taken as opportunities to go long.
