EUR/USD: A bearish reversal has started on this pair since Wednesday, but the bias is yet to turn bearish. A condition for a bearish signal in the 4-hour chart is the situation in which price goes below the accumulation territory at 1.1000, which would require a strong bearish pressure. Without the condition above being met, price might even go further upwards from here.
USD/CHF: The USD/CHF assumed a rally August 3, 2016, which, however, is yet to override the existing bearish bias. Price moved upwards by 100 pips in the context of a downtrend. Price would need to go above the resistance level at 0.9850, which requires a huge buying pressure. In case this fails to happen, price would be corrected downwards.
GBP/USD: The bearish movement that started on Thursday has led to a bearish signal on the GBP/USD, especially in the short-term. There is now a Bearish Confirmation Pattern in the market, which may enable price to go below the distribution territories at 1.3100 and 1.3050; though price may turn at the accumulation territory at 1.3000.
USD/JPY: This is a bear market, and there is a Bearish Confirmation Pattern in the market. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50. Price is now below the supply level at 101.50; the next target for bears are located at the demand levels at 100.00, 99.50 and 99.00.
EUR/JPY: This cross is also in a bearish mode, made conspicuous by the Bearish Confirmation Pattern in the market. Price is now below the supply level at 113.00, going towards the demand zones at 112.50 and 112.00. Since the bias on the market is bearish, further bearish journey is anticipated today or tomorrow.
