EUR/USD: The pair is in a bearish mode, but the bearish movement is not very strong. For example, the pair moved downwards by only 50 pips this week. It happens that the support line at 1.3650 has proven to be stubborn and recalcitrant - it has been tested for several times. The price needs to close below it and continue to trend lower.
USD/CHF: The pair is in a bullish mode, but the bullish movement is not very strong. For example, the pair moved upwards by only 40 pips this week. It happens that the resistance level at 0.8950 has proven to be adamant and obstinate - it has been tested for several times. The price needs to close above it and continue to trend upwards.
GBP/USD: It was said earlier this week that it is normal for this market to go into a positive correction with its EUR/USD counterpart. The distribution territory at 1.6900 has been tried several times as the market goes volatile. There is also an accumulation territory at 1.6850, which can hinder the southward pull.
USD/JPY: From the demand level at 101.00, the USD/JPY moved upwards, closing above the demand level at 101.50. This has resulted in a Bullish Confirmation Pattern and the price is expected to continue moving upwards. Our next target is situated at the supply level of 102.00. Should the price succeed in breaking the supply level to the upside and closing above it, then the next target would be the supply level at 102.50.
EUR/JPY: The trend on this cross is bearish. Therefore, the shallow rally that is being experienced in the market is currently being challenged at the supply zone of 139.00. From here, the price could drop further downwards.
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