EUR/USD: Since the close of Friday, this pair has moved upwards by 220 pips, now close to the resistance line at 1.0950. There is now a strong bearish outlook on the market, and further upwards movement is possible as price is drifting towards the resistance lines at 1.1000, 1.1050, and 1.1150 before the end of this week.
USD/CHF: The USD/CHF pair has been moving downwards gradually. The EMA 11 is below the EMA 56, and the Williams' % Range period 20 is around the oversold territory. It is much more possible that the market would continue going downwards until it reaches the support levels at 0.9900 and 0.9850.
GBP/USD: Following the sharp rise in the market last week, the Cable has moved sideways till now. However, a rise in momentum is anticipated, which would most probably favor bulls. This means that the distribution territories at 1.2850, 1.2900 and 1.2950 would be tested this week.
USD/JPY: Since the close last Friday, the USD/JPY pair has gone upwards by 200 pips, following the gap-up that was seen at the beginning of this week. There is now a Bullish Confirmation Pattern in the market, and price could continue going further upwards, reaching the supply levels at 111.50, 112.00, and 112.50.
EUR/JPY: Since the close last Friday, the EUR/JPY pair has gone upwards by 450 pips, following the gap-up that was seen at the beginning of this week. There is now a Bullish Confirmation Pattern in the market, and price could continue going further upwards, reaching the supply levels at 122.00, 122.50, and 123.00. The supply level at 121.50 is currently being tested.
