EUR/USD: This pair moved sideways yesterday, and may trend strongly today or tomorrow. The bias is bullish, and therefore, it is expected that price might go further upwards today, reaching for the resistance lines at 1.1200 and 1.1250. The only threat to this assumption is a possible stamina in USD, which may happen any time.
USD/CHF: The USD/CHF pair still shows willingness to go further south, while the major bias remains bearish. In the market, transient rallies might be viewed as opportunities to go short at slightly higher prices. Unless USD gains strength, bears would push price south, reaching the support levels at 0.9650 and 0.9600.
GBP/USD: This currency trading instrument simply moved sideways last week – in an equilibrium movement which started two weeks ago. The equilibrium phase would end this week or next, providing that price goes upwards or downwards 500 pips. This month, GBP might plummet versus JPY and USD, while going upwards versus AUD and NZD.
USD/JPY: The USD/JPY pair went flat on Monday. There is a Bearish Confirmation Pattern in the market, and further bearish movement is possible, especially in the face of a bearish expectation on JPY pairs. There are interesting demand levels at 101.50 and 100.50, which could be tested this week.
EUR/JPY: This is also a bear market in the short term – which should trend further downward this week in spite of bullish effort that may be witnessed along the way. Further southwards movement is possible: price could reach the demand zones at 113.50, 113.00 and 112.50 this week or next.
