EUR/USD: Since the USD/CHF pair tested the resistance level at 1.0900, it has retraced by 150 pips. The price is now around the support level at 1.0750, though the retracement is not significant enough to overrule the recent bullish bias. A movement below the support levels at 1.0700 and 1.0650 would result in a bearish signal.
USD/CHF: The USD/CHF pair has continued its bullish movement, though the bias on the market is currently bearish. A movement above the resistance lines at 1.0000 (which is a psychological line) would render the bearish bias to be invalid. Some fundamental figures are expected today and they may have impact on the market.
GBP/USD: This currency trading instrument also has pulled back since testing the distribution territory at 1.2600. The pullback has caused some mixed signals in the market: the EMA 11 is above the EMA 56, while the RSI period 14 is below the level 50. It would be OK to wait until the EMAs agree with the RSI or until the RSI would agree with the EMAs.
USD/JPY: This pair is trying to consolidate to the upside. There remains a Bearish Confirmation Pattern in the market and unless the price goes upwards by at least, 200 pips, there would not be a threat to the extant bearish bias. The bearish bias would hold until there is strong rally in the market.
EUR/JPY: The cross has only moved sideways this week – in the context of a downtrend. There is a Bearish Confirmation Pattern in the chart, and further bearish movement is a possibility for the price to test the demand zones at 119.00 and 118.50. However, there remains a probability of a rally before Friday.
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