EUR/USD: The EUR/USD pair has been coming down gradually since last Friday, having done so by 120 pips. Unless the price comes down by another 150 pips, the current price action would be taken as a mere pullback in the context of an uptrend, for the EMA 11 is above the EMA 56 as the Williams' % Range period 20 is not far from the overbought region. Today or tomorrow would determine the further direction in the market.
USD/CHF: On Monday (March 14, 2016), this pair moved by 70 pips upwards. This upwards movement pales into insignificance when compared to the bearish movement that happened last Friday. There should be a directional movement this week, either to the upside or to the downside. Otherwise the market could enter a neutral phase again.
GBP/USD: The GBP/USD pair traded lower on Monday in the context of an uptrend. Unless the accumulation territory at 1.4200 is breached to the downside, the bullish bias cannot be in jeopardy on the market. We expect the price to rise from here, attaining the distribution territories of 1.4400 and 1.4450 this week.
USD/JPY: What this currency trading instrument experiences could best be called wild volatility. There are sharp upswings alternated by sharp downswings in the chart, with no clear victory of bulls or bears. However, there should be a directional movement this week, which would most probably favor bulls.
EUR/JPY: There is still 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. In spite of the present bearish correction, the price is supposed to continue moving upwards this week, reaching the supply zones of 127.50 and 130.00.
