EUR/USD: Nothing significant is to happen on the EUR/USD pair this week which is in a bearish mode. The downtrend is supposed to continue unless some drastic events change the outlook (especially some fundamental ones). The support lines at 1.0600, 1.0550 and 1.0500 remain the targets for this week.
USD/CHF: This is a bullish market in spite of what is happening now. The EMA 11 is above the EMA 56, but the Williams' % Range period 20 is currently pulling back. The market cannot go bearish until the price breaches below the support line at 1.0000. Before that happens, any bearish corrections here would be seen as opportunities to go long at better prices.
GBP/USD: This trading instrument is currently in an equilibrium phase, since it has not assumed a directional movement this week. The instrument would either go above the distribution territory at 1.2550 or below the accumulation territory at 1.2350. That is when it would be deemed that the equilibrium phase is completely over.
USD/JPY: There is a bearish signal on the USD/JPY. The price is below the supply level at 110.00, and it has almost reached the demand level at 109.50. Once the demand level is breached to the downside, the next target would be the demand level at 109.00.
EUR/JPY: The movement in the EUR/JPY pair has become interesting as this market has been continuously falling since March 13, 2017. The price has dropped 630 pips since then, and it has lost 180 pips this week. Currently, the pair is below the supply zone at 116.50 and it may target the demand zones at 116.00 and 115.50.
