EUR/USD: This pair trended upward strongly last week, making that week see greater volatility on major pairs; unlike what happened between July 18 to 21. Price has gone upwards by 230 pips, closing above the support line at 1.1150. There is a Bullish Confirmation Pattern in the market and price is supposed to continue moving upwards, unless USD experiences a considerable amount of strength.
USD/CHF: The USD/CHF went upwards at the beginning of last week, and almost reached the resistance level at 0.9950. From that point, price declined 300 pips, to close at 0.9635 on Friday and below the resistance level at 0.9700. Price is expected to reach the support levels at 0.9650, 0.9600 and 0.9550 this week. The only threat to this expectation is a possible stamina in USD.
GBP/USD: This currency trading instrument simply moved sideways last week – in an equilibrium movement which started two weeks ago. The equilibrium phase would end this week or next, providing that price goes upwards or downwards 500 pips. This month, GBP might plummet versus JPY and USD, while going upwards versus AUD and NZD.
USD/JPY: As it was prognosticated at the beginning of last week, the USD/JPY plummeted by almost 450 pips. Selling pressure is also visible on other JPY pairs. USD/JPY is supposed to continue going downwards this week, reaching the demand levels at 101.50, 101.00 and 100.50 this week or next. The outlook on JPY pairs is also bearish for the month of August 2016.
EUR/JPY: In this market, bears are the overall winners last week. Price plummeted by 250 pips on Friday, leading to a vivid bearish signal in the market. Further southwards movement is possible: Price could reach the demand zones at 113.50, 113.00 and 112.50 this week or next.
