EUR/USD: The EUR/USD went downwards on Tuesday, continuing the bearish movement that was started last week. There is a Bearish Confirmation Pattern in the market, and further bearish movement is envisaged, for price would go toward the support lines at 1.0550, 1.0500 and 1.0450 within the next few trading days.
USD/CHF: The USD/CHF is still above the great support level at 1.0000. Price is now above the support level at 1.0050, going toward the resistance level at 1.0100, which is the next target for bulls. As long as price is above the great support level at 1.0000, long trades would be logical in the market.
GBP/USD: The bias on the Cable remains neutral. But a rise in a bearish movement is very likely and it may happen any day. There would also be bearish movements on some other GBP pairs as well. Long trades should not be held for a long time in this market.
USD/JPY: The USD/JPY trended upwards yesterday. This happened while a bullish signal was in place, and in line with a bullish expectation on the market. There is now a Bullish Confirmation Pattern in the 4-hour chart, and further bullish movement is possible as price goes toward the supply levels at 114.50, 115.00 and 115.50.
EUR/JPY: The bias on the EUR/JPY is bearish. Bulls attempted to push price upwards yesterday, but their effort has not yielded anything significant. The EMA 11 remains below the EMA 56, though the RSI period 14 is above the level 50. Price needs to go upwards by another 200 pips before a bullish outlook can be fully established here.
