EUR/USD: The EUR.USD is in an equilibrium phase. There could be a breakout later this week or earlier next week, which would take price above the resistance line at 1.1300 or below the support level at 1.1150. This is the condition for bullish or a bearish bias to form in the market: As long as price is below the resistance level or above the support level, the equilibrium phase would hold.
USD/CHF: The USD/CHF is in an equilibrium phase. There could be a breakout later this week or earlier next week, which would take price above the resistance level at 0.9850 or below the support level at 0.9650. This is the condition for bullish or a bearish bias to form in the market: As long as price is below the resistance level or above the support level, the equilibrium phase would hold.
GBP/USD: This currency trading instrument is still in an uncertain environment. Bears are trying to push price south, but bulls are also trying to frustrate their effort. A strong directional movement, like 300 pips to the upside or to the downside, would be needed to bring about a bias in the market.
USD/JPY: In the 4-hour chart, the USD/JPY is neither bullish nor bearish. This is a kind of market in which the scalper thrives. A rise in momentum is anticipated, but this then, position traders may stay out of the market.
EUR/JPY: The vagaries of the EUR/JPY has reared up its head, as the market is volatile but directionless in the short-term. There is currently no Bullish or Bearish Confirmation Pattern in the 4-hour chart until there is a movement of at least 300 pips to the upside or to the downside.
