EUR/USD: This is
a bullish market, which has regained all the losses experienced last week. It happened that the transitory Friday's loss gave an excellent
opportunity to buy long, for the price has gone upwards by more than 220 pips
this week. The resistance line at 1.1400 could be reached.
precarious, the outlook for the USD/CHF pair is bearish. The market is expected to trend
lower and lower as EUR/USD moves higher and higher. The only event that can
change the situation is when EUR/USD trends lower and lower, which seems
improbable at the moment.
GBP/USD: A clear bullish movement in this market has resulted in a Bullish
Confirmation Pattern in the chart. The EMA 11 is above the EMA 56 and the RSI
period 14 is above the level of 50. The price is poised to continue moving further
upwards, breaking one distribution territory after another.
USD/JPY: There is a clean ‘sell' signal on the USD/JPY now as the price moves below the supply level at 123.00. The next bearish target is located at the demand levels of 122.00 and 121.50. These levels would be attained as selling pressures intensify in the market.
current price action on this cross is posing some threat to dominant
bullish outlook, but the outlook would hold as long as the price is above
the demand zone around 137.50. The influence of bears would not become
conspicuous as long as the price is unable to go below the demand zone.
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