EUR/USD: There is still a "buy" signal on the EUR/USD pair. The EMA 11 is above the EMA 56, and the Williams' % Range period 20 is often around the overbought area. The bullish signal is supposed to continue as price would target the resistance lines at 1.0800, 1.0850, and 1.0900 today or tomorrow.
USD/CHF: The bearish signal on this pair remains valid (especially in the long term), though price has been consolidating since last week. The EMA 11 is below the EMA 56, and the Williams' % Range period 20 is not far from the oversold area. Price is supposed to continue dropping when momentum returns to the market.
GBP/USD: The GBP/USD pair has pulled back this week; but the pullback was not significant enough to override the bullish signal in the market, unless the accumulation territory at 1.2500 is broken to the downside. Price is expected to resume going upwards from here, reaching the distribution territories at 1.2650, 1.2700, and 1.2750.
USD/JPY: This market is still consolidating – and that is something that started last week. The weak hands are increasing their presence and as a result of that, the RSI period 14 has crossed the level 50 to the downside. However, the EMA 11 has not crossed the EMA 56 to the downside. Should the EMA 11 cross the EMA 56 to the downside, then the bias would turn bearish.
EUR/JPY: This currency trading instrument is still in a bullish mode, as price has gone upwards significantly this week (though it has started moving sideways since yesterday), allowing a strong Bullish Confirmation Pattern to hold in the market. Bulls might be able to target the supply zones at 122.50, 123.00, and 123.50 before the end of this week, especially when momentum returns to the market.
