EUR/USD: The EUR/USD remains in thea bear market. The price rallied into the EMA 56, after which it has started coming down a little. Now trading below the resistance line at 1.3800, the price has the possibility of reaching the support line at 1.3750. It should also be noted that the market has been volatile so far this week.
USD/CHF: Come what may, there is still a possibility that this pair could reach the resistance level at 0.8900. This can happen irrespective of the volatility in the market, for it should be borne in mind that this is a bull market. In addition, some fundamental figures may also impact the market today, but those figures are not that many.
GBP/USD: This currency trading instrument has shown a clean rejection of further bearish move. From a weekly low of 1.6464, the price has rallied by close to 120 pips. A close above the distribution territory at 1.6600 would mean that the southward outlook has already been jeopardized.
USD/JPY: There is already a Bearish Confirmation Pattern in this market, as a result of the fact that this pair was unable to maintain its recent bullish signal. Since the price has broken the supply level at 102.00 to the downside, the market has gone bearish and short trades would be sensible.
EUR/JPY: As it was expected, the EUR/JPY broke out below the supply zone at 141.00. A new bearish signal has set in, thus one would do well to go short, targeting the demand zone at 140.00. There is a possibility that the price may go below that demand zone as the selling pressure becomes more significant.
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