EUR/USD: The EUR/USD pair is still bearish in outlook in spite of the bullish attempt it has made this week. The bullish attempt has turned out to be a short-selling opportunity, which may take the price below the resistance line at 1.3750 again. Some economic figures are expected today and they can have impact on the pair.
USD/CHF: At the juncture in which it looked like it was over for the bulls, the plunge in the price was rejected around the location of the EMA 56. The price has thus assumed a new bullish bias as it turned upwards. It may be possible for the price to test the resistance level at 0.8900.
GBP/USD: The Cable is still bullish in the medium-term, although the current weakness is perpetual. The perpetual weakness has not succeeded in overthrowing the bulls. In fact it may even be rigorously contained at the accumulation territory of 1.6600 – a point at which the price may rally in accordance with the dominance bias.
USD/JPY: Since a ‘buy’ signal was formed in this chart, the market has gone upwards by over 160 pips. With a continuation of the current buying pressure, it may not be difficult for the market to reach the supply level at 104.00. In fact, this bullish bias may hold out till the middle of this month of April 2014.
EUR/JPY: This cross tested the demand zone at 140.00 last week before the price began to skyrocket (as a result of the fact that further southward plunge was rejected). From that demand zone, the price has gone upwards by over 300 pips. Irrespective of the present minor correction, the uptrend is supposed to continue till, perhaps, next week.
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