EUR/USD: This pair was moving sideways in the context of a downtrend, and then started trending further downwards yesterday. There is a strong Bearish Confirmation Pattern in the 4-hour chart, and bears could push price further downwards toward the support lines at 1.0550, 1.0500 and 1.0450.
USD/CHF: This market has gone as it was forecasted. Price moved sideways from Monday till Wednesday, when it broke further upwards, in a major uptrend. The resistance level at 1.0200 is the next target, for price has gone above the support levels at 1.0150, and 1.0100. Any corrections or pauses seen in this market would signal opportunities to buy long.
GBP/USD: This pair went upwards on Wednesday and got engaged in a shallow bearish correction. 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 went upwards by over 200 pips yesterday, in one of the strongest bullish movements on popular JPY pairs. Since the low of November 9, price has gone upwards by 1,150 pips, and bulls are still willing to push price further upwards within the next few days.
EUR/JPY: This cross went upwards by 120 pips yesterday – having gone upwards by 520 pips since the low of November 9. The movement on the USD/JPY has been stronger than the movement on the EUR/JPY, because USD is strong while EUR is weak. So, EUR/JPY was able to move upwards because JPY is weaker than EUR. The supply zone at 119.00 was nearly tested and would be tested today or tomorrow, as bulls target another supply zone at 119.50.
