EUR/USD: The condition in this market could end up jeopardizing the bearish signal in the market. In fact, the bearish signal is currently being threatened. The price has gone slightly upwards this week, but it would be able to render the bearish signal invalid only when it breaks the resistance line at 1.3650 to the upside.
USD/CHF: The current consolidation to the downside is not a good thing to the recent bullish signal on this pair. The price should not go below the support level at 0.8900; otherwise the bullish signal would be rendered completely useless. Meanwhile, the price could probably go upwards to the resistance level at 0.8950. It could even breach it to the upside.
GBP/USD: In spite of the challenge the bulls encounter in this market, it is not yet rational to seek short trades. In fact, the price has a higher probability of going further upwards (it might also be added that the EUR/USD pair could go into positive correlation with it).
USD/JPY: Here, the price is below the EMA 56 and the RSI period 14 is below the level 50. Go short. The market may eventually reach the demand level at 101.00, but it should break the demand level at 101.50 first.
EUR/JPY: On the EUR/JPY cross, the bulls have given way, and this has resulted in a Bearish Confirmation Pattern in the chart. This occurred as the EMA 11 crossed the EMA 56 to the downside, and the RSI period 14 crossed the level 50 to the downside as well. The price would test the demand zone at 138.00, and could even breach it to the downside.
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