EUR/USD: As a result of a perpetual strength in the Greenback, this pair continues to be weak, going further south. Any rallies that happen in this market are good opportunities to sell at better prices. The pair is now trading below the resistance line at 1.2650, going towards the support line at 1.2550.
USD/CHF: This pair would continue to go upwards as long as the EUR/USD pair goes down. The single most important reason for the stamina in this pair is the strength in the USD itself. The USD is the strongest currency among the major currencies right now, and this very pair can reach the resistance level at 0.9600, having broken the support level at 0.9550 to the upside.
GBP/USD: There is now a Bearish Confirmation Pattern in the GBP/USD chart – the price is below the EMAs 11 and 56 and the RSI period 14 is below the level 50. The price has already breached the distribution territory at 1.6200 to the downside, going towards the accumulation territory at 1.6150.
USD/JPY: The USD/JPY pair continues its northward journey in a slow and steady manner. The price is currently trading above the demand level at 109.50 and it would soon break the supply level at 110.00 to the upside. Meanwhile, there is a demand level at 109.00 which could ensure that any bearish effort on the way is frustrated.
EUR/JPY: In spite of the clear volatility in this market, the EUR/JPY pair remains weak. The ‘sell’ signal would be valid as long as the price is unable to go above the EMA 56. There is a high possibility that the price may test the demand zone at 138.00 again, for that demand zone has previously been tested.
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