EUR/USD: The EUR/USD pair has moved sideways so far this week. The EMA 11 is below the EMA 56, while the Williams' % Range period 20 is often in the oversold region. This sideways movement in the context of a downtrend would end as momentum rises, and most probably go in favor of bears.
USD/CHF: This pair has moved sideways so far this week. The EMA 11 is above the EMA 56, while the Williams' % Range period 20 is often in the overbought region. This sideways movement in the context of an uptrend would end as momentum rises, and most probably go in favor of bulls.
GBP/USD: This pair went upwards on Monday and got engaged in a bearish correction on Tuesday. The bias on the market remains bearish, and any further bullish attempt should be taken as opportunities to sell short at better prices. A movement below the accumulation territory at 1.2350 would reinforce the existing short-term and long-term biases in the market.
USD/JPY: The USD/JPY pair has been going further and further upwards. There is a huge Bullish Confirmation Pattern in the market, and a further northwards journey is anticipated. So bulls might target the supply levels at 111.50, 112.00, and 112.50 this week. This kind of bullish movement would hold as long as the Yen is weak.
EUR/JPY: The EUR/JPY pair is still making some bullish attempt, now besieging the supply zone at 118.00, which is the second target for the week. The supply zone would soon be breached to the upside as price goes towards another supply zone at 119.00.
