EUR/USD: The price nearly touched the resistance line at 1.4000, but that move could not be sustained. This pair has been weakened suddenly. The sudden weakness has resulted in an established downward outlook. A fall of over 150 pips is significant enough, and the price could eventually test the support line at 1.3800.
USD/CHF: This currency trading instrument has also become strengthened, although the speed of movement in USD/CHF tends to be slower than EUR/USD (for both move in the negative correlation). The bullish outlook is getting confirmed, but the confirmation would be sensible only when the price can sustain its position above the support level at 0.8800. It would even be more sensible when the price tests the resistance level at 0.8850.
GBP/USD: This market is in a bearish correction mode. The bullish bias is still in place but it would become seriously threatened, should the price cross the accumulation territory at 1.6900 to the downside. As long as the price is unable to cross that accumulation territory to the downside, it could be safe to assume that the price would rally from that point.
USD/JPY: The signal on this currency trading instrument is bearish, but the bearish movement is shallow. The price is consolidating to the downside; so it may continue as such.
EUR/JPY: The EUR/JPY nosedived yesterday, going below the supply zone at 141.00. There is now a Bearish Confirmation Pattern in the chart and we should focus on short trades ought to be sought. The demand zone at 140.50 should also be breached to the downside so that the bearish trend could continue.
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