EUR/USD: There is a vivid bearish signal for this currency trading instrument as bears push the price lower and lower. The EMA 11 is below the EMA 56 and the Williams' % Range period 20 is not far from the oversold region. Potential targets for this week remain at 1.0700 and 1.0650.
USD/CHF: The USD/CHF pair is in an uptrend; and according to the current price action, it would be profitable to buy pullbacks in the market. The upward journey would go on, but there would be occasional muscles flexing from bears, which would cause occasional bearish corrections. The time during these corrections would be ideal for long trades if a bullish candle forms next.
GBP/USD: This pair consolidated on Tuesday within a downtrend. There is a Bearish Confirmation Pattern in the market, and it is much more likely that the bearish movement would continue. The accumulation territory at 1.4650 has been tested and it could be tested again. Another target for bears is the accumulation territory at 1.4600.
USD/JPY: This pair continues experiencing some weakness, just like most pairs containing the yen experienced weakness at the same time. The bias on the pair is bearish, and thus, further weakness is expected in the market, which might make the price test the demand level at 118.50.
EUR/JPY: The EUR/JPY pair went down smoothly on Tuesday, almost testing the demand zone at 127.50. The price has moved downwards by 300 pips this week before the current upwards bounce, which is shallow. It is expected that the downward movement would resume into the favor of the bears.
For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of major pairs for January 6, 2016 . Thanks for your support.
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