EUR/USD: This pair has moved upwards by 200 pips this week. Since the bullish breakout that happened last week, the price has moved upwards by 500 pips. This means the breakout is not false one. The price is now above the support line at 1.1000 going towards the resistance line at 1.1050. It should be noted that the support line at 1.1000 is important; therefore it would not be easy for the price to breach it to the downside anytime soon.
USD/CHF: The USD/CHF pair has dropped by 170 pips this week. Since the bearish breakout of the last week, the price has nosedived by 470 pips. The price is below the resistance level of 0.9850 going towards the support level of 0.9800. Apart from the natural negative correlation with the EUR/USD pair, another reason for weakness in the USD/CHF pair is the fact that the CHF is also strong.
GBP/USD: The cable has given out a bullish signal. The price is now above the EMA 11, which in its turn is above the EMA 56. The RSI period 14 is above the level of 50. Furthermore, some fundamental figures are expected today and they might have an impact on the market.
USD/JPY: The USD/JPY pair has left the recent neutral zone owing to the bearish breakout, which happened on Wednesday. The price dropped by 200 pips this week. There is now a bearish bias in the market. Further southward journey is possible until there may be occasional bounces.
EUR/JPY: This cross traded sideways on Wednesday without any serious breakout. Since there is still a clear Bullish Confirmation Pattern in the market, the price can easily continue journeying northwards. One reason for this expectation is the bright outlook for the market.
