EUR/USD: The EUR/USD is now a neutral market. There would not be a directional bias unless price rises above the resistance line at 1.1900. On the other hand, a decline is likely when momentum returns to the market. Some fundamental figures are expected today and it could have some impact on the markets.
USD/CHF: The USD/CHF has not done much so far this week – hence the current consolidation. There is a neutral bias on the market. For the current neutrality to end, the price would need to either go above the resistance level at 0.9750 or below the support level at 0.9600. Either of this would happen within the next several trading days and it would require strong volatility.
GBP/USD: There is a bearish bias on the Cable and the bearishness is supposed to continue as price journeys further southwards. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. The accumulation territory at 1.2800 has been tested several times, and it is expected to be breached to the downside again (and the price would stay below it).
USD/JPY: This pair has been making relentless bullish attempts – in the context of a downtrend. There are mixed signals in the market (the EMA 11 is below the EMA 56, and the RSI period 14 is above the level 50). It would be OK to stay aside until it is clear whether the market would go downwards or it would go upwards to threaten the recent bearish bias.
EUR/JPY: The EUR/JPY has gained about 150 pips this week, moving upwards in the context of a recent bearish bias. Price is now above the demand zone at 129.00, going towards the supply zone at 129.50. Generally, a movement above the supply zone at 130.00 would result in a clear Bullish Confirmation Pattern in the 4-hour chart. A bullish signal is already in place.
