EUR/USD: The EUR/USD pair rallied by over 300 pips on Wednesday, and later crashed by 340 pips on the same day. The bullish bias has been threatened, and the market could continue its journey to the downside, which might eventually result in a confirmed bearish bias in the market.
USD/CHF: This currency trading instrument plummeted by over 270 pips yesterday, and later rallied by 270 pips on the same day. The bearish bias has been threatened, and the market could continue its journey to the upside, which might eventually result in a confirmed bullish bias in the market.
GBP/USD: In spite of the volatility that was seen on the Cable yesterday, the Bullish Confirmation Pattern on the 4-hour chart remains valid. This means that the market is expected to go further upwards, reaching the distribution territory at 1.2500, 1.2550, and 1.2600. The distribution territory at 1.2500 has been tested and it would be tested again.
USD/JPY: The USD/JPY pair crashed by over 400 pips on Wednesday, and later rebounded by 450 pips on the same day. The bullish bias has been saved, and the market could continue its journey to the upside. The targets at the supply levels at 106.00, 106.50, and 107.00 remain valid for this week.
EUR/JPY: This cross pulled back yesterday and quickly recovered. The RSI period 14 went below the level 50 and quickly went above it again; plus the EMA 11 is above the EMA 56, showing a "buy" signal in the market. As EUR gains more stamina, price is bound to go further higher, reaching the supply zones at 116.00, 116.50 and 117.00.
