EUR/USD: The EUR/USD is now in a bullish mode, at least, in the short-term. There is a Bullish Confirmation Pattern in the 4-hour chart and price is expected to go upwards further, reaching the resistance lines at 1.1200 and 1.1250. The support lines at 1.1150 and 1.1100 should check any possible pullbacks along the way.
USD/CHF: The visible strength in the EUR/USD has caused some bearish pressure on the USD/CHF. The William's % Range period 20 is now in the oversold region, and a bearish signal would be generated once the EMA 11 crosses the EMA 56 to the downside. Price might eventually reach the support level at 0.9650.
GBP/USD: This is a bear market – both in the 4-hour chart and the daily chart. There is a Bearish Confirmation Pattern in the market, for price would move further south, to test the accumulation territories at 1.2950 and 1.2900. However, these accumulation territories are decisive because they could halt further southwards movement, helping the bulls, who are growing impatient with the current bearish outlook.
USD/JPY: The USD/JPY remains in a bearish mode. Price is expected to continue going further south, as short-term rallies proffer new opportunities to sell short. The demand zones at 101.00 and 100.50 could be tested today or tomorrow.
EUR/JPY: The outlook and movement on this cross is quite similar to that of the USD/JPY. Any rallies that occur here should be seen as opportunities to sell short, for price might eventually reach the demand zones at 112.50, 112.00 and 111.50. The bearish trend should be respected until there is a clear change in the market (until it is clear that bulls are in control).
