EUR/USD: The price action on this pair reveals that it is logical to sell transitory rallies in the market. The outlook is bearish: the EMA 11 is below the EMA 56, and the Williams' % Range period 20 is sloping into the oversold region. This shows the presence of disgruntled bears, who are bent on pushing the price further south.
USD/CHF: Bulls are yet to be pummeled on the USD/CHF. The EMA 11 is above the EMA 56; though the Williams' % Range period 20 is in the oversold region. This could be taken as a signal to go long when there is a short-term decline in the context of an uptrend.
GBP/USD: This is a bear market. The price is below the accumulation territory at 1.4450, which has been tested and would be tested again. The price is expected to go below that accumulation territory, targeting another accumulation territory at 1.4350.
USD/JPY: Just like the EUR/JPY, the USD/JPY also first moved around the supply level at 111.00. The price moved above that supply level briefly, but it could not stay above it. This was followed by a decline of 230 pips, which has essentially resulted in a Bearish Confirmation Pattern on the chart. More southward journey could take the price towards the demand levels at 108.00 and 107.50.
EUR/JPY: The EUR/JPY made a rally attempt at the beginning of this week, reached the supply zone at 124.00 on Tuesday and then declined by 280 pips later in the week. There is a bearish bias on this market, and the price is supposed to continue going lower and lower. Right now, the price is below the supply zone at 121.50, and the next targets to be reached are the demand zones at 121.00 and 120.50.
