EUR/USD: The EUR/USD pair made some bullish attempt yesterday, and that action has invalidated the last short-term bearish signal in the market. Price is currently above the support line at 1.0950, going towards the resistance line at 1.1000.
USD/CHF: The USD/CHF pair has almost generated a bearish signal on the 4-hour chart. The bearish movement began on May 12, 2017, and continued yesterday. As soon as the resistance level at 1.0000 was breached to the downside, a bearish bias was formed. A movement below the support level at 0.9950 would result in a stronger Bearish Confirmation Pattern in the market.
GBP/USD: The Cable is still consolidating – something that was started last week. A closer look at the market reveals that the uptrend is getting tired, thereby increasing chances of a large pullback, which could happen this week. A movement below the accumulation territory at 1.2800 would result in a bearish bias.
USD/JPY: This currency trading instrument has been able to retain its bullishness in spite of its short-term sideways movement. A movement above the supply level at 114.00 would result in a stronger bullish outlook, while a movement below the demand level at 112.00 would result in bearish outlook.
EUR/JPY: This cross has been able to exert its bullish strength. Price moved further north on Monday, to continue the northwards movement it started on April 24. Price has gone upwards by over 600 pips since April 24, 2017, and this seems to just be the beginning. Only a significant pullback can serve as a threat to the bullish trend.
