EUR/USD: This is a clean bear market and the price has gone further downwards this week. The urge for the price to go bearish is very strong and it may test the support line at 1.3550. That support line is almost tested, and with the continuation of the bearish strength, the support line would be breached to the downside.
USD/CHF: This pair has been able to break out as it was prognosticated last week. This time, the breakout is in favor of the bulls and the price is now trading above the support level at 0.8950. The bulls can expect to take their profits at the great resistance level at 0.9000.
GBP/USD: This is a bull market, and the currency trading instrument could go on beyond the distribution territory at 1.7150. The RSI period 14 is above the level 50.
USD/JPY: This pair appears strong purely as a result of the strength of the Greenback. The strength has given this pair a renewed energy, making it form a Bullish Confirmation Pattern in the chart. The price is not expected to go upwards significantly, but it may test the supply level at 102.00. Any break above that supply level would suggest the continuous weakness in the Yen.
EUR/JPY: The weakness of the EUR has made the EUR/JPY cross weak. The weakness has brought the cross in alignment with the dominant bias on the market which is bearish. This means that the recent rally in the chart correctly predicted a sell-off in the context of a downtrend. The market could go on testing the demand zone at 137.50. The demand zone was tested last week, and thus it could be tested this week.
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