EUR/USD: The outlook for this pair is still bullish, though threatened. The price managed to test the resistance line at 1.1450, before being corrected to the downside. A downward movement was not strong enough to render the current bullish outlook invalid, unless the support line at 1.1200 is breached to the downside.
USD/CHF: The USD/CHF pair remains under bearish control. As long as the resistance level at 0.9800 is not broken to the upside, bearishness would be a rational thing. The market is expected to continue moving downwards this week; coupled with the fact that the resistance level at 0.9800 is a serious challenge to bulls.
GBP/USD: This pair went 300 pips upwards last week, rising from the accumulation territory of 1.5350, and reaching the distribution territory at 1.5650. From that distribution territory, the price has eased by 110 pips. There would be strong volatility in the market this week, for the price would perform a series of upswings and downswings.
USD/JPY: The USD/JPY pair moved sideways during the last week, without any significant movement to the upside or to the downside. There would be a serious breakout any day this week, which would most probably favor bears. There is the demand level at 119.00 and support is found at 121.50.
EUR/JPY: This cross is highly volatile with serious struggles between bulls and bears. The determinant of this week's movement on the cross is the situation on the EUR and the JPY - a stronger JPY would cause the cross to tumble and a stronger EUR could cause it to skyrocket. The outlook on JPY pairs remains bearish, and therefore, there is a strong probability that the cross would trend downwards.
