EUR/USD: The rally that started on this pair has eventually resulted in a ‘buy’ signal in the chart. From the support line at 1.3700, the price has gone upwards by over 100 pips, testing the resistance line at 1.3800. That resistance is currently under siege and the price would soon breach it to the upside, as it goes further to another resistance line at 1.3850.
USD/CHF: Here, the EMA 11 has already crossed the EMA 56 to the downside; while the Williams’ % Range is already in an oversold situation. There is a clean bearish indication in the market, and the price is now ready to continue the journey further downwards. The Williams’ % Range period 20 in the oversold area means that there could be a shallow bullish correction, after which the southward journey may continue.
GBP/USD: The upward breakout on the Cable is significant enough to result in a Bullish Confirmation Pattern in the chart. The price has moved upwards by close to 180 pips. This is just the beginning of a long-term bullish bias, and the price could test the distribution territory at 1.6800, and even breach it to the upside.
USD/JPY: The bearish indication that was formed at the beginning of this week has already resulted in a very serious weakness for this currency trading instrument. Our target at 102.50 was exceeded. Even the price level at 102.00 was also exceeded. The instrument is presently trading below the supply level at 102.00: it may easily reach the demand level at 101.50.
EUR/JPY: The fact of a bearish signal was mentioned in yesterday’s forecast. The price has plunged seriously, and it may slash through the demand zone at 140.00, as it plunges further down.
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