EUR/USD: This market went further upwards at the beginning of this week – in the context of uptrend. There is still a convincing indication that the price would go further upwards proving that the EUR continues to be strong. Any sudden weakness in the EUR may cause the price to pull back towards the support lines at 1.0800 and 1.0750.
USD/CHF: This currency trading instrument has not moved very much this week. The price is volatile and there is a tussle between bulls and bears, all in the context of downtrend. The support level at 0.9500 has been tested several times in the past and it may be tested again. Strong sellpressure is needed for that support level to be breached to the downside.
GBP/USD: the GBP/USD continued its bullish movement on Monday, testing the distribution territory at 1.5250. It calls for strong buy pressure for that distribution territory to be breached to the upside. The next target would be another distribution territory at 1.5300.
USD/JPY: This is a type of market in which upswings and downswings are short-term in nature. However, a closer look reveals that the bears currently have the upper hands, and as a result of this, we may see some sell pressure this week.
EUR/JPY: this cross did not show significant movements this week but things remain bullish. As long as the price is above the demand zone at 128.50, it would be prudent to assume that a bullish signal is still in place. The price is expected to trend further north, for only a movement below the aforementioned demand zone could put the expectation in jeopardy.
