EUR/USD: The EUR/USD has been able to maintain its bullishness this week. Price is currently above the support line at 1.1250. The resistance line at 1.1300 has been tried several times and it would be breached to the upside this week or next, provided the buying pressure in the market is strong enough.
USD/CHF: The USD/CHF has been able to maintain its bearishness this week. Price is currently below the resistance level at 0.9650. The support level at 0.9600 has been tried several times and it would be breached to the downside this week or next, provided the selling pressure in the market is strong enough. Some fundamental figures are expected today and they would have impact on the market.
GBP/USD: This pair rallied 150 pips on Tuesday, and consolidated on Wednesday. Price would need to move upwards by at least, 300 pips, before there can be a Bullish Confirmation Pattern in the 4-hour chart. Otherwise, the event of yesterday would simply be another opportunity to go short at a better price.
USD/JPY: This is a bear market in the short term. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50. All bulls' effort in the market is expected to be scuttled. Then bears might be able to push price towards the demand levels at 99.50 and 99.00; though that would require strong selling pressure.
EUR/JPY: This is a consolidating market, which has not moved upwards or downwards significantly this week. Since the EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50, it is safe to say that when momentum returns to the market, it would be in favor of the bears.
