EUR/USD: The EUR/USD is now challenging the resistance level at 1.3950, which ought to be breached soon. Our target at the resistance level of 1.4000 remains unchanged. In addition, there are some economic figures that would be released today, and they will have impact on this market.
USD/CHF: This pair is now trading below our target - at the former support level at0.8750. With the continuation of the bearish pressure, the possibility of the price testing the support level at 0.8700 is very high. This is an easy target.
GBP/USD: On the Cable, the price slashed through the accumulation territory at 1.6600, but it was unable to close below it. Further bearish plunge was rejected as the price rose upwards, targeting the accumulation territory at 1.6700. However, it is better to wait to see a confirmed bias in the market before one takes a side. Why? The bulls are currently battering the bears, but no bullish signal has been confirmed in the timeframe.
USD/JPY: This market is showing lack of strength as the price slashes through the EMA 56. The RSI period 14 is already below the level 50, but the price needs to close below the EMA 56 before the short trade is sought. The bias this week has been bearish so far; the price has dropped by over 50 pips.
EUR/JPY: This currency trading instrument is still fighting the bearish pulls on it, successfully. The Bullish Confirmation Pattern in the chart is still very much relevant (although tight stop orders would have been triggered). It is almost sure that the supply zone at 145.00 will be tested.
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