EUR/USD: The EUR/USD went down on Monday and Tuesday, and then began to move upwards slowly from Wednesday. Overall, the bias is bearish, which means that the current bullish attempt is an opportunity to go short at better prices. The support lines at 1.0400 and 1.0350 could still be reached.
USD/CHF: The USD/CHF merely moved sideways on Monday – and the bias on the market remains bullish. The price action and the indicators in the 4-hour chart reveal that when momentum returns to the market, it would most probably favor the bulls. The targets for the week remain at the resistance levels at 1.0300 and 1.0350.
GBP/USD: This pair came down 200 pips this week. Now below the distribution territory at 1.2300. There is a Bearish Confirmation Pattern in the chart and the accumulation territories at 1.2250, 1.2200 and 1.1150 before the end of this month. Long trades are not recommended in this market at this period.
USD/JPY: This market has become flat since last week and there is no directional movement in the near term. Right now, it is OK to stay away from the market because there are mixed signals in it – the EMAs 11 and 56 are giving a bullish indication while the RSI period 14 is giving a bearish indication. Soon, the indicators would begin to give signals in the same direction.
EUR/JPY: There is a possibility of a bullish movement on the EUR/JPY cross. In spite of the recent flat movement, the overall outlook on the market is bullish, which would hold as long as price does not go below the demand zone at 120.50, which would require a strong bearish pressure anyway.
