EUR/USD: The EUR/USD was corrected downwards yesterday, but that has not invalidated the bullish bias in the market. Price is above the support line at 1.1400, and it may go up from there, targeting the resistance lines at 1.1450 and 1.1500. That may help put emphasis on the recent bullish bias.
USD/CHF: The USD/CHF is moving in a zigzag mode, and it is better to stay away from it until there is a directional movement. A continuous zigzag movement would make the market look unattractive, while a movement above the resistance level at 0.9750 would help generate a bullish signal. A movement below the support level at 0.9550 would lead to a clear bearish signal. A healthy volatility is needed in this market, to achieve this.
GBP/USD: There is a short-term bullish signal on the Cable and price has already crossed the accumulation territory at 1.2900 to the upside, and it is now close to the distribution territory at 1.2950 (which could easily be crossed to the upside). The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. That is a bullish indication.
USD/JPY: The market has recently experienced some bearish correction. This has posed some threat to the recent bullish bias, and as soon as the price goes below the demand level at 112.50, a bearish signal would form. On the other hand, a movement to the upside would help restore the bullishness in the market.
EUR/JPY: The movement on this cross pair is quite similar to the movement on the USD/JPY. The recent bullish bias is being threatened, but it cannot really be over until price goes below the demand zone at 128.00. A movement above the supply zone at 130.50 would help restore a Bullish Confirmation Pattern in the market, though that would require a serious buying pressure.
