EUR/USD: The EUR/USD has gone further south this week, to continue the southward journey that was started last week. Price is now below the resistance line at 1.0550, going toward the support lines at 1.0500 and 1.0450. These are the next targets for this week.
USD/CHF: The USD/CHF has continued its upward journey, albeit gradually. Price has tested the resistance level at 1.0100, which could be breached to the upside any day. The next targets for bulls are located at the resistance levels of 1.0150 and 1.0200 for this week.
GBP/USD: The Cable has not gone upward significantly this week. The outlook on the market is neutral and the more price moves sideways, the more protracted the current base in the market. A serious breakout is imminent, and it would most probably be in favor of bears, for the outlook on some GBP pairs remains bearish for this month.
USD/JPY: There is an interesting occurrence in this market. In the 4-hour chart, price has gone upwards enough to show bulls' willingness to push price further upwards. The EMA 11 has crossed the EMA 56 to the upside and the RSI period 14 is above the level 50. As soon as price moves above the supply level at 114.50, there would be a Bullish Confirmation Pattern in the market. After all, the outlook on JPY pairs is bullish for the week.
EUR/JPY: Price action in EUR/JPY market has shown some weakness in it. The outlook on the market is bearish, and the demand zones at 119.50 and 119.50 could be tested. They could even be breached to the downside. On the other hand, any expected weakness in the Yen could cause the market to rally.
