EUR/USD: Since the middle of last week, this currency trading instrument has been moving sideways. There is a clean Bearish Confirmation Pattern in the market, and thus, the outlook on the trading instrument remains bearish. The current sideways movement is only a pause in the journey downwards, for the downward movement is expected to continue.
USD/CHF: Yesterday, the USD/CHF moved briefly above the resistance level at 1.0300, only to go below it again. The bias on the market remains bullish and the targets for this week and next week are located at the resistance levels of 1.0300 and 1.0350. There is a strong demand level at 1.0000.
GBP/USD: The Cable moved downwards on Wednesday. It has gone down by 66 pips this week, testing the accumulation territory at 1.2200. Since last week, price has gone down by 290 pips, and it may even go down further and further, before the end of this week or early next week.
USD/JPY: Price on this pair has moved only sideways this week – till now. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. It is more likely that price would be going upwards when a directional movement begins to happen (to emphasize the current bullish outlook). The next immediate target is the supply level at 118.00.
EUR/JPY: This currency trading instrument went down 130 pips yesterday, threatening the recent bullish signal in the market. The RSI period 14 has crossed the level 50 to the downside, and EMA 11 has almost crossed the EMA 56 to the downside. Should price go further downwards by 120 pips, the bias on the market would turn bearish.
