EUR/USD: Following the gap-up that happened early this week, this pair has consolidated in the context of an uptrend. Price is currently above the support line at 1.0850, and it may go towards the resistance lines at 1.0900 and 1.0950 within the next few trading days. That would be when momentum returns to the market.
USD/CHF: The USD/CHF pair has essentially moved sideways so far this week. Price has not gone above the resistance level at 1.0000 or below the support level at 0.9900. There is a need for price to go above the resistance level or below the supply level, so that a directional movement can resume. A movement below the support level at 0.9900 is much more likely.
GBP/USD: This currency trading instrument trended sideways between Monday and Wednesday, and then trended further upwards on Thursday. Since April 17, price has gained 360 pips, vigorously testing the distribution territory at 1.2900. The distribution territory would soon be breached to the upside as price trends further upwards.
USD/JPY: There is a bullish outlook on this market, especially since the gap-up that happened at the beginning of this week. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. In spite of the current consolidation in the market, it is possible that price would continue moving upwards.
EUR/JPY: There is a bullish signal for the EUR/JPY cross, and price may soon be reaching the supply levels at 122.00, 122.50, and 123.00. The expectation may come to pass in spite of the shallow bearish threat that is currently in the market.
