EUR/USD: There remains a Bearish Confirmation Pattern on the EUR/USD pair. The EMA 11 is below the EMA 56, and the Williams' % Range period 20 is not far from the oversold territory. Price would likely continue trending down, but it would meet some opposition at the support line of 1.0800. Some fundamental figures are expected today and they can have impact on the market.
USD/CHF: Since last week, this pair has not been able to go above the resistance level at 0.9900. Bulls would continue to lay siege to that resistance level until they finally breach it to the upside, targeting more resistance levels above. Should bulls fail to go above the resistance level at 0.9900, that could lead to a possibility of a large pullback.
GBP/USD: The cable has gone upwards by 150 pips this week, and this is seen as a bullish effort in the context of a downtrend. The price needs to go up by 1000 pips at least before there can be any threat to the extant long-term bearish outlook in the market. Until that happens, any rallies seen here would turn out to be opportunities to sell short. Right now, price is consolidating.
USD/JPY: A bearish signal is also forming gradually on this market. The RSI with period 14 has already gone below the level 50, but the EMA 11 has not crossed the EMA 56 to the downside. This is what will eventually happen, as soon as price goes below the demand levels at 103.00, and 102.50.
EUR/JPY: This pair has gone further bearish, just as it was forecasted. Further bearish movement is anticipated today, which would make price reach the demand zones at 113.00 and 112.50. This would make a stronger Bearish Confirmation Pattern to be formed on the 4-hour chart.
