EUR/USD: This pair has moved upwards by 200 pips this week, with a clean Bullish Confirmation Pattern in the chart. The EMA 11 is above the EMA 56, and the Williams' % Range period 20 often hovers around the overbought region. There is a strong bullish signal in the market and price is supposed to continue its journey upwards.
USD/CHF: This pair has moved downwards by 210 pips this week, with a clean Bearish Confirmation Pattern in the chart. The EMA 11 is below the EMA 56, and the Williams' % Range period 20 often hovers around the oversold region. There is a strong bearish signal in the market and price is supposed to continue its journey downwards.
GBP/USD: There is now a bullish signal on the GBP/USD, for price has moved upwards 290 pips since Tuesday. The market is now above the accumulation territory at 1.3150, going towards the distribution territories at 1.3200, 1.3250 and 1.3300. These distribution territories would be reached today or next week.
USD/JPY: This is a bear market in the short term. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50. All bulls' effort in the market is expected to be scuttled. Then bears might be able to push price towards the demand levels at 99.50 and 99.00; though that would require strong selling pressure.
EUR/JPY: This cross consolidated last week, and it has consolidated so far this week. Further consolidation for a few more days would force the current bearish bias into a neutral territory. Today, or most probably, next week, would determine the next direction of the cross.
