EUR/USD: The EUR/USD pair is in a bearish mode. The EMA 11 is below the EMA 56, and the Williams' % Range period 20 is in the oversold area. While there may be temporary rallies along the way, the downtrend may continue towards the support lines at 1.0850 and 1.0800.
USD/CHF: Right now, the USD/CHF pair is in a bullish mode. The EMA 11 is above the EMA 56, and the Williams' % Range period 20 is in the overbought area. While there may be temporary pullbacks along the way, the uptrend may continue towards the resistance levels at 0.9950 and 1.0000. Once again, it is unlikely that the psychological level at 1.0000 would be breached to the upside.
GBP/USD: This is a choppy market, though the bias is bullish. Bulls have made some effort to go above the distribution territory at 1.2550. Once price is able to stay above the distribution territory, the next target for bulls would be another distribution territory at 1.2600.
USD/JPY: Following the massive pullback that happened on Wednesday, the USD/JPY pair has rallied notably. Price is now above the demand level at 106.50, going towards the supply level at 107.00. Since there is a Bullish Confirmation Pattern in the market, it is expected that the supply level at 107.00 would soon be breached to the upside.
EUR/JPY: Following the massive pullback that happened on Wednesday, the EUR/JPY pair has rallied again, though things currently looks volatile. Price is now above the demand zone at 116.00, going towards the supply zone at 116.50. Since there is a Bullish Confirmation Pattern in the market, it is expected that the supply zone at 116.50 would soon be breached to the upside. That supply zone was tested and it would be tested again.
