EUR/USD: The price has bounced upwards from the support line at 1.3700 (after it was tested rigorously last week and early this week). The upward bounce is not strong enough to render the dominant bearish bias useless, unless the price crosses the resistance line at 1.3800 to the upside and trades further higher. In effect, that resistance line is the stop loss area for short sellers. The price may go downwards again to test the support line at 1.3700.
USD/CHF: There is a bearish correction on this market, just as there is a bullish correction on the EUR/USD. Also, the bearish correction is not strong enough to pose a morbid threat to the extant bullish bias: it simply appears as a way to buy long when the price is on sale, and in a context of an uptrend. Further counter-trend move may be contained at the support level of 0.8850.
GBP/USD: The rally on the Cable is posing as a threat to the bears’ interest. The bullish determination could even become stronger when the price crosses the distribution territory at 1.6650 to the upside.
USD/JPY: The USD/JPY has been able to break the price level at 103.00 to the downside, thus forming a bearish indication. It would be advisable to seek short trades, for the price could go on to challenge the demand level at 102.50.
EUR/JPY: The constant inability of the price in this market to go upwards has resulted in a Bearish Confirmation Pattern in the chart. It would be very easy for the price to test the demand zone at 141.00.
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