EUR/USD: The EUR/USD pair plummeted further on December 14, 2016, just as news emanating from the US gave the greenback more stamina. Price dropped 140 pips, but it could not reach the support line at 1.0500. However, the drop happened in the context of a downtrend, and this has put more emphasis on the downtrend. Further drop is possible.
USD/CHF: The USD/CHF pair went upwards yesterday in conjunction with the existing bullish outlook on the market. Price went above the support level at 1.0150, breaching the resistance level at 1.0200. There could be bearish retracements along the way, but the bullish journey would continue, which would lead price towards the resistance level at 1.0250.
GBP/USD: The Cable is currently not an attractive market. Price is quite choppy now, and it would be OK to stay away from it until things would be clearer. At least, a movement of 300 pips to the upside or to the downside would be needed, for a directional bias to form in the market.
USD/JPY: This is a serious bull market. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. Following the recent consolidation in the context of an uptrend, further bullish breakout, which happened yesterday, has given another signal that short trades are not currently logical here.
EUR/JPY: This cross, which was quite choppy last week, and consolidating this week, has broken upwards, following the consolidation that happened this week (a sideways movement). There is a Bullish Confirmation Pattern in the market, which was brought about by the weakness in Yen (for EUR is weak in its own right). Some fundamental figures are expected this week, and they would continue to aid the ongoing buying pressure in the market.
