EUR/USD: There is a bearish signal on the EUR/USD, for the price has gone downwards a bit this week. The EMA 11 is below the EMA 56, and the Williams' % Range period 20 is not far from the oversold territory. This means that while there could be transitory bullish attempts here, the price is expected to journey further downwards.
USD/CHF: This pair tested the resistance level at 0.9900 and got corrected lower. The indicators on the 4-hour chart point to a possibility of further northward journey. But the resistance level at 0.9900 would pose a formidable challenge to bears. The risk of a bearish movement is present.
GBP/USD: It is safe to assume that the Cable is engaged in a consolidation phase. Neither bulls nor bears can claim a clear victory this week. However, there could be a strong movement any time, which might favor either bulls or bears. Some fundamental figures are expected today, and they would have impact on the market.
USD/JPY: The USD/JPY has moved upwards by 180 pips this week. The bias is bullish, and the price is above the demand level of 107.00, going towards the supply level of 107.50. There are also demand levels at 106.00 and 105.50, which should try to halt any possible bearish corrections along the way.
EUR/JPY: This cross is also making bullish attempts – just like the USD/JPY. The EMA 11 is above the EMA 56, while the RSI period 14 is above the level 50. This supports a Bullish Confirmation Pattern on the chart. The next targets for bulls are located at the supply zones of 118.50, 119.00 and 119.50.
