EUR/USD: This pair has been coming downwards gradually and it has resulted in a Bearish Confirmation Pattern in the market. Further southward movement is expected today, for bears are in "temporary control" right now. As long as the resistance line at 1.1300 is not breached to the upside, the bearish signal would be valid.
USD/CHF: There is a short-term "buy" signal on the USD/CHF pair, and price is intent on going above the resistance level at 0.9800. In case this is successful, the next target would be the support level at 0.9850 and 0.9900, which may cause severe opposition from bulls, since that is a strong resistance level.
GBP/USD: Bulls made some attempts to push the Cable upwards yesterday, but that pales into insignificant when compared to the overall bearish trend in the market. The accumulation territories at 1.3000, 1.2950, and 1.2900 could be tested this week. There is a need for a strong fundamental factor before any meaningful rally can occur in the market.
USD/JPY: This pair simply consolidated throughout last week, not going below the demand level at 101.50 nor above the supply level at 103.50. Price did not go directionally yesterday. The bias is neutral, but momentum is expected to rise this week, which would most probably take price towards the demand levels at 101.50 and 101.00 this week.
EUR/JPY: This cross is bearish in the 4-hour chart, and the demand zone at 113.50 has been tested. Bears are still willing to push price further downwards and thus, the demand zone might be breached downward, going towards other demand zones at 113.00 and 112.50. This might happen any moment this week.
