EUR/USD: This pair moved southwards on Monday and Tuesday, but the bias on the market remains bullish. The price has come down by 120 pips this week, after testing the resistance line at 1.1000 (which has become a formidable barrier to the future rallies). The EMA 11 would soon cross the EMA 56 to the downside, and that would generate a "sell" signal in the market.
USD/CHF: The dollar-frank pair went upwards on Monday and Tuesday in the contest of a downtrend. A break of the support level at 1.0000 to the upside shows that there is a threat to the recent bearish bias. Since price is now heading towards the resistance level at 1.0100, a new bullish bias is likely to form soon, especially when the resistance line is breached to the upside.
GBP/USD: There is a huge bullish confirmation pattern on the 4-hour chart, and further bullish movement is possible this week. Right now there is a sideways movement in the market, but a breakout is imminent, which would most probably favor bulls. The distribution territories at 1.3000 and 1.3050 could still be breached.
USD/JPY: This pair has gone up by 165 pips this week, and has added 440 pips since April 24, 2017. The price is now around the demand level at 114.00 and it may go towards the supply levels at 114.50 and 115.00. The USD has gained some strength, as it was forecasted at the beginning of this week. Further bullish movement is possible.
EUR/JPY: There remains a bullish signal on the EUR/JPY despite the fact that the market has not gone in a directional mode this week. The EMA 11 is above the EMA 56, and the RSI with period 14 is above the level of 50, showing a clean bullish outlook on the market. Further bullish movement is possible today or tomorrow.
