EUR/USD: The EUR/USD moves in the opposite direction to USD/CHF. The price has gone down so far this week, and it could continue moving further downwards. Price is in the overbought area in the William's % Range period 20. The EMA 11 is below the EMA 56. This is a bear market.
USD/CHF: As it was forecasted at the beginning of this week, the USD/CHF pair was able to move upwards. The price has gone up by 170 pips; now above the support level at 0.9900, targeting the resistance level at 0.9950. Since there is a Bullish Confirmation Pattern in the chart, it is logical to conclude that the bullish effort would hold out today.
GBP/USD: It is still rational to conclude that this is a strong market, irrespective of the bearish correction we now see (which might be transient). There is a Bullish Confirmation Pattern on the 4-hour chart: The present bearish correction could offer a good opportunities to buy at better prices, in the context of an uptrend.
USD/JPY: This market is bullish – having moved upwards by 170 pips this week. The EMA 11 is above the EMA 56, while the RSI period 14 is above the level 50. Further upwards movement is anticipated. The price is now above the demand level at 110.00, and the next target is the supply level at 110.50.
EUR/JPY: The EUR/JPY pair has moved simply sideways so far this week, with price not going above the supply zone at 124.50 or going below the demand zone 122.50. A breakout would possibly happen today or surely happen next week, which would take the market out of the equilibrium zones.
