EUR/USD: The rally that started on Monday is still in place, and that has resulted in a buy signal in the market. This is because the EMA 11 is above the EMA 56, while the Williams' % Range period 20 is very close to the overbought region now. Should this reality hold out for a few more days, the price might be able to reach the resistance lines at 1.0950 and 1.0000.
USD/CHF: The USD/CHF pair has consolidated so far this week moving sideways while the EUR/USD pair is making bullish effort. This shows that the USD/CHF pair might not be ready to be engaged in any bearish movement soon, unless the EUR/USD pair itself rallies with a surprising alacrity. As long as the price does not move below the support levels of 1.0100 and 1.0050, the bullish outlook would be in place.
GBP/USD: There is essentially a new bullish signal on the cable owing to the bullish effort taken at the beginning of this week. There is a possibility that the price might reach the distribution territories of 1.4500 and 1.4550. On the downside, there are accumulation territories at 1.4250 and 1.4200, which might lead to a renewed bearish outlook in case they are broken to the downside.
USD/JPY: Since the beginning of this week, this currency trading instrument has been coming down slowly and gradually posing a threat to the recent northward breakout. The price has come down by 120 pips after the opening bell, and once the price goes below the EMA 56 and the RSI period 14 goes below the level of 50, there would be a Bearish Confirmation Pattern in the market, which would signal further southward plunge.
EUR/JPY: This cross is also challenged by the ongoing stamina in the yen. The EUR needs to gain a considerable amount of stamina for the price to go up. The indicators show that the bullish bias remains in place in the chart; until the RSI period 14 goes below the level of 50 and the EMA 11 crosses the EMA 56 to the downside.
