EUR/USD: This price has mostly been consolidating this week. The EMA 11 is below the EMA 56, and the Williams' % Range is often in the oversold territory. There is a strong Bearish Confirmation Pattern in the 4-hour chart, and bears could push price further downwards toward the support lines at 1.0500, 1.0450 and 1.0400.
USD/CHF: This is a bull market. Price is now above the support level at 1.0150, going toward the resistance levels at 1.0200 and 1.0250. Any corrections or pauses seen in this market would signal opportunities to buy long. The silence in this market would soon be broken by a rise in momentum, which would most probably favor bulls.
GBP/USD: The GBP/USD is choppy and directionless, though the overall bias remains bearish (especially in the bigger timeframe). It is better to stay away from the market until a directional movement occurs to the upside or to the downside, by at least, 200 pips.
USD/JPY: The USD/JPY has gone upwards by 270 pips this week, in one of the strongest bullish movements on popular JPY pairs. Since the low of November 9, price has gone upwards by 1220 pips, and bulls are still willing to push price further upwards within the next few trading days.
EUR/JPY: This cross has gone upwards by 210 pips this week – having gone upwards by 590 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. Price is now above the demand zone at 119.50, going towards the supply zone at 120.00.
