EUR/USD: The EUR/USD pair moved upwards on Monday, which is a considerable amount of threat to the recent bearish outlook on the market. A movement above the resistance line at 1.1350 would result in a bullish signal, but a movement below the support level at 1.1150 would reinforce the recent bearish bias, which is now under a threat.
USD/CHF: The USD/CHF pair trended lower yesterday, which is a considerable amount of threat to the recent bullish bias on the market. A movement below the support level at 0.9600 would result in a bearish signal, but a movement above the resistance level at 0.9850 would strengthen the recent bullish bias, which is now under a threat.
GBP/USD: Since September 1, 2016, the cable has gone upwards by 310 pips, now very close to the distribution territory at 1.3450. It is expected that the distribution territory would be breached to the upside, as price targets another distribution territory at 1.3500. Price would even go beyond this territory eventually.
USD/JPY: The USD/JPY pair has experienced a large pullback this week – which is a threat to the current bullish outlook. The RSI period 14 is below the level 50; and once the EMA 11 goes below the EMA 56, there would be a Bearish Confirmation Pattern in the market, which would signal further bearish movement.
EUR/JPY: This cross has come down by 120 pips since the beginning of this week, but the bullish outlook on the market is not totally overturned. The EMA 11 is still above the EMA 56, though the RSI period 14 is below the level 50. Today would show whether the current price action would be a temporary pullback in the market or a beginning of a new downtrend.
