EUR/USD: There is now a strong bearish signal on the EUR/USD. The EMA 11 has crossed the EMA 56 to the downside, and the Williams' % Range period 20 is in the oversold region. While there may be some bullish effort in the market, the overall movement would be bearish within the next several trading days.
USD/CHF: This pair is going upwards – just in the opposite direction to the EUR/USD. Price is now above the support level at 1.0100, going toward the resistance level at 1.0150. This is the next target. The support level at 1.0000 is the ultimate impediment to any bearish effort in the market, for the bullish signal would not be rendered completely invalid until it is breached to the downside.
GBP/USD: The GBP/USD has plummeted by 220 pips this week. Price has tested the accumulation territory at 1.2250, and it would retest it. Once the accumulation territory is breached to the downside, the next target for bears would be another accumulation territory at 1.2200.
USD/JPY: This currency trading instrument trended upwards seriously this week, testing the supply level at 114.50. Here, price met some challenge and it has pulled back. However, the pullback would likely be contained at the demand levels of 114.00 and 113.50, areas from which price may resume its bullish journey.
EUR/JPY: This currency cross has generated a bullish signal since the middle of the week. There is a Bullish Confirmation Pattern in the market, and price is supposed to continue to go upwards in spite of the current correction. The market could go upwards again to test the supply zone at 120.50, and even breach it to the upside.
