EUR/USD: The gradual weakness in the EUR/USD pair has finally led to an invalidation of the recent bullish bias. The price is below the EMA 11, which is below the EMA 56. The Williams' % Range period 20 has long been around the oversold territory. The support lines at 1.1050 and 1.1000 stand a chance of being tested.
USD/CHF: There is a bullish signal indication in this market, because the price has moved upwards by 180 pips this week, pushing against the resistance level of 0.9950. The EMA 11 has crossed the EMA 56 to the upside and the Williams' % Range period 20 is in the overbought region. The bullish signal would become more conspicuous as the price goes further north.
GBP/USD: This pair has faced strong opposition at the accumulation territory of 1.4250, and there is a lot of trading activity around that accumulation territory. This is because bulls are making desperate attempts to push the price upwards, which is not an easy thing, given the current Bearish Confirmation Pattern in the chart. Unless bears fail to push the price below the accumulation territory of 1.4250, it is better to seek short trades here.
USD/JPY: This currency trading instrument has been moving sideways from Monday till now. But a closer look at the market reveals that bears are gaining strength again, while the bias remains bearish on the market. There is a possibility that the price could test the demand levels of 112.50 and 112.00 today or next week.
EUR/JPY: From a high reached on February 16, 2016, the EUR/JPY pair has come down by 200 pips, testing the demand zone of 126.00. There is a a high probability that this demand will be breached to the downside, owing to the bearish outlook for the market. In case the price goes further south, the next target would be the demand zone at 125.00.
