EUR/USD: The EUR/USD pair moved sideways from Monday to Wednesday and then broke upwards on Thursday. The upwards break (that was previously forecasted) has already emphasized the ongoing bullish bias on the market. The next targets for bulls are the resistance line of 1.1000, which is an important area.
USD/CHF: The USD/CHF pair trended southwards on Thursday in the context of a downtrend. There is a Bearish Confirmation Pattern in the market, and a further bearish movement is possible as long as EUR/USD is dropping. That is the condition that would enable USD/CHF to trend upwards.
GBP/USD: The GBP/USD pair has generally moved sideways this week in the context of a bullish bias. Price has bounded between the distribution territory at 1.2950 and the accumulation territory at 1.2850. A breakout is imminent, which would most probably favor bulls. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50.
USD/JPY: This market has gone upwards by 160 pips this week; having moved upwards by over 340 pips since April 25, 2017. The supply level at 113.00 was tested and price pulled back a bit. However, a further northward journey is anticipated, for price could reach the supply levels at 113.00, 113.50, and 114.00 within the next several trading days.
EUR/JPY: The EUR/JPY pair has moved upwards by 210 pips this week. The bullish movement was in agreement with the bearish movement that started last week. The supply zone at 123.50 is currently under siege and it would soon be breached to the upside as bulls push price towards another supply zones at 124.00 and 124.50.
