EUR/USD: The EUR/USD pair made a faint bearish start this week, and later started trending upwards. Price has moved upwards by over 200 pips, and this has resulted in a new bullish bias in the market. Thus the market is supposed to be going upwards this week, reaching the resistance lines at 1.0800, 1.0850 and 1.0900 this week.
USD/CHF: A bearish signal has appeared on the USD/CHF pair. Price is likely to continue going further downwards. A more southerly movement may result in price reaching the support levels at 1.0050 and 1.0000. However, it would be difficult for price to break the support level at 1.0000 to the downside.
GBP/USD: This is a bullish as well as a volatile market. Price began a bullish movement last week and it has gone north by 300 pips since then, and now targeting the distribution territory at 1.2750. That distribution territory is supposed to be breached to the upside soon, as price goes further and further upwards.
USD/JPY: This pair consolidated yesterday in the context of an uptrend. There is a Bullish Confirmation Pattern in the market and a rise in momentum should end up favoring the extant bullish outlook. The outlook is also bullish for this week. The supply levels at 114.50, 115.00 and 115.50 remain the bullish targets for the week.
EUR/JPY: The EUR/JPY pair went south in the first few hours of this trading week. Price quickly recovered and went upwards 350 pips from a daily low of 119.50 (Monday). The action has put more emphasis on the recent bullish bias. The resistance line at 123.00 has been tested, and it would be tested again.
