EUR/USD: This is a bear market, and it is expected that the price would continue to go bearish in spite of the current turbulence in the market (plus the fact that there is a serious battle between the bulls and the bears). The support line at 1.3750 was tested last week, and this week; it is going to be tested again. Ultimately, the support line would be breached to the downside, as the price goes to the main target at 0.3700.
USD/CHF: The bias on the USD/CHF is bullish, though the market is currently volatile.In spite of the volatility, it is assumed that the bulls would continue to gain upper hands, pushing the price towards the resistance level at 0.8900, which is our target for this week or next week.
GBP/USD: There is a rally in this market, but it is expected to be transient. This is because the extant outlook is southward. The EMA 11 is below the EMA 56, though the RSI period 14 is almost giving a bullish signal. Should the price drop further, especially from the distribution territory at 1.6550, the price could reach the accumulation territory at 1.6450. At this time, the RSI period 14 would have crossed the level 50 to the downside.
USD/JPY: Basically, this is a sideways market, but it is likely that that the price would go upwards when it breaks out of the sideways phase. Upon a close look at the chart, it could be seen that the bulls are slightly exuding some preponderance in the market.
EUR/JPY: This cross is as good as being flat. Therefore, one would do well to wait for the next directional move before one takes a position. It is either the price would break the supply zone at 142.00 to the upside, or break the demand zone at 141.00 to the downside.
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