EUR/USD: This pair ended up being bullish last week, especially as the price skyrocketed from a low of 1.0821, which was formed on Thursday (March 10, 2016). The price skyrocketed by almost 400 pips from there, bringing an abrupt end to the recent bearish outlook on the market. There is now a "buy" signal on the EUR/USD chart, for the price could continue moving higher this week.
USD/CHF: The USD/CHF pair ended up being bearish last week, especially as a price fell from the high of 1.0092, which was reached on Thursday (March 10, 2016). The price fell like a stone, by almost 280 pips, from that weekly high, bringing an abrupt end to the recent protracted consolidation in the market. There is now a sell signal on the USD/CHF chart, for the price could continue moving lower this week. Generally, the USD would be facing attacks at many fronts, since GBP/USD, EUR/USD and especially, the NZD/USD pair, would be seen trending upwards this week.
GBP/USD: In spite of occasional shallow corrections on the cable, bulls managed to push up the price by roughly 250 pips last week, as the price closed at 1.4383 on Friday, March 11, 2016. The EMA 11 is now above the EMA 56 as the RSI period 14 is above the level of 50. Normally, the price should continue going upwards this week.
USD/JPY: What this currency trading instrument experienced last week could best be called "wild volatility." There were sharp upswings alternated by sharp downswings in the chart, with no clear victory between bulls and the bears. However, there should be a directional movement this week, which would most probably favor bulls.
EUR/JPY: The EUR/JPY pair ended up being bullish last week, having formed a Bullish Confirmation Pattern in the chart. The supply level of 127.00 has been tested and it would be tested again as bulls are determined to continue pushing the price upwards. The price is supposed to continue moving upwards this week, reaching the supply zones around 127.50 and 130.00.
