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: As it was mentioned yesterday, USD/CHF has gone further south and that has led to a bearish signal in the market. Price is below the resistance level at 0.9800, going towards the support level at 0.9700. Some fundamental figures are expected today and they could have impact on the market.
GBP/USD: This market went further downwards on August 11, 2016, while the Bearish Confirmation Pattern in the 4-hour chart is becoming clearer and clearer. The bearish outlook on the market is also supported by the daily chart, and thus, the next targets for bears are located at the accumulation territories at 1.2900 and 1.2850.
USD/JPY: Bulls are now making some effort to push price upwards – in the context of a downtrend. However, this kind of effort is another opportunity to sell short at cheaper prices, and this expectation would be rational as long as the price does not go above the supply levels at 103.00 and 103.50.
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).
