The USD/CHF remains bullish. The bearish correction it experienced yesterday simply gave an opportunity to go long when the price pulled back in the context of an uptrend.
EUR/USD: The EUR/USD remains bearish. The bullish correction it experienced yesterday simply gave an opportunity to go short when the price went up in the context of a downtrend. The price would go on to touch the support line of 1.3550. A short trade is preferable here.
USD/CHF: The USD/CHF remains bullish. The bearish correction it experienced yesterday simply gave an opportunity to go long when the price pulled back in the context of an uptrend. The price would go on to touch the resistance level at 0.9100. A long trade is preferable here.
GBP/USD: This currency trading instrument is also bearish, though the price is jumpy (volatile). The logic is to pick trades only in the direction of the bears, while ignoring long signals. The barrier to the bears’ interest is, however, at the distribution territory of 1.6450 – a point at which it would be clear that the bears no longer hold sway.
USD/JPY: In this market, the price tested the demand level at 104.00 a few times. This is a point where it seems that the price is bottoming out in a near-term basis, for the bears are now unwilling to allow a further plunge in the price. However, one would do well to wait for the price to cross the EMA 56 to the upside and the RSI period 14 to go above the level 50 before initiating a trade.
EUR/JPY: This cross is also trying to rally when the Bearish Confirmation Pattern in the chart is still valid. It would be OK to seek short trades, unless the price breaks the supply zone at 143.00 the upside, the bias is towards the south.
Instaforex is the worst broker I have ever used.
Their support really sucks, they do not even pretend they are trying to help you they just copy paste part of terms.
They do not reply to emails.
They are delaying your withdrawal forever.
When I found how ridiculously high commission they have requested a withdrawal.
Nothing happen for a week – when I tried to find out why it took my hours of frustrating communication.
Finally I was told they will send my money after 45 days since deposit as a part of money laundering.
So I waited more than 45 days and requested withdrawal again.
After 8 days since withdrawal I still do not receive my money. I used moneybokers withdrawal that should take 1-7 hours as stated on their own portal.
They did completely ignore my emails they keep saying ‘we sent it to financial specialist’ on Skype.
They keep bull****ting me on chat. Still they were not able to answer
Of course I can prove everything I stated here.
When I receive my money
And why does it take so long
The EUR/JPY has shown its inability to trade higher than the supply zone at 143.00, in spite of testing it several times last week. Should the price then fall below the demand zone at 142.00, it could mean the beginning of a new bearish trend.
EUR/USD: After moving sideways for most of last week, this pair was able to break out upwards, thus rendering the recent bearish bias almost invalid. The bearish bias is not yet completely invalid. What would make it invalid is a situation in which the pair trades above the resistance line at 1.3700, which would have led to a clean bullish bias by then.
USD/CHF: After moving sideways for most of last week, this pair was able to break out downwards, thus rendering the recent bullish bias almost invalid. The bullish bias is not yet completely invalid. What would make it invalid is a situation in which the pair trades below the support level at 0.9000, which would have led to a clean bearish bias by then.
GBP/USD: Interestingly the Cable and the EUR/USD seem to be going into a positive correlation with each other. This means that both are making attempts to go northward. The Bullish Confirmation Pattern on the Cable has been existing since last week. The price should be able to close above the distribution territory at 1.6500 this week.
USD/JPY: This currency trading instrument closed at 104.15 on Friday, after forming another bearish signal. I think it is better to begin to look for ways to sell rallies in this market, for the recent bullish signals on it have been showing signs of failure. The price has not been able to trade above the supply level of 105.50.
EUR/JPY: The EUR/JPY has shown its inability to trade higher than the supply zone at 143.00, in spite of testing it several times last week. Should the price then fall below the demand zone at 142.00, it could mean the beginning of a new bearish trend. This view is supported by the Bearish Confirmation Pattern in the chart.
Although a bearish signal has been in place on the EUR/JPY since last week, it was not until this week that the signal became really significant. Any rally in the market is a good opportunity to sell short.
EUR/USD: Gradually the bulls’ determination on this pair has resulted in a Bullish Confirmation Pattern. Eventually the price would be trading above the resistance line at 1.3700. It was trading above it a few weeks ago, and so, the possibility of it going above that line again should not be any challenge.
USD/CHF: Gradually the bears’ determination on this pair has resulted in a Bearish Confirmation Pattern. Eventually the price would be trading below the resistance level at 0.8950. It was trading below it a few weeks ago, and so, the possibility of it going below that level again should not be any challenge. There are barriers to bullish attempts at the resistance levels of 0.9050 and 0.9100.
GBP/USD: There is a confirmation of a bearish bias on the Cable. The EMA 11 has crossed the EMA 56 to the downside and the RSI period 14 has crossed the level 50 to the downside. The logical thing to do here is to seek short trades. Typically, it is possible for the price to reach the accumulation territory at 1.6300.
USD/JPY: The USD/JPY has finally succumbed to the southward pull that has been battering it lately. The bulls have been fighting against this, but right now they are losing to the bears. The indicators on the chart confirm the bears’ hegemony.
EUR/JPY: Although a bearish signal has been in place on the EUR/JPY since last week, it was not until this week that the signal became really significant. Any rally in the market is a good opportunity to sell short. The price could still reach the demand zone of 140.00 today or tomorrow.
As you have mentioned in the post, that the 1.3700 level is critical for the EURUSD pair.
I am considering entering a small size sell trade.
What do you think?
I am also thinking about a 20 pip stop for this trade.
I think the 1.3710 level is an importance resistance level.
However, I must say that your bullish call was true as the pair traded higher today.
I was having a long order, but it was never triggered.
This week, the USD/CHF should be able to trade above the market level at 0.9100. The ultimate target for this week is the resistance level at 0.9200.
EUR/USD: This market has been bearish and it would continue to be so this week. We are watching the support lines at 1.3500 and 1.3450, which are the successive targets for the bears. Meanwhile, the resistance lines at 1.3600 and 1.3650 should act as barriers to any possible bullish threats.
USD/CHF: This, week the USD/CHF should be able to trade above the market level at 0.9100. The ultimate target for this week is the resistance level at 0.9200. The Bullish Confirmation Pattern on the chart reveals that the bias should go on being bullish in favor of buyers.
GBP/USD: This pair has been ‘reluctantly’ bearish, and it experienced a massive rally on Friday before the market closed at 1.6422. The question now is: Would this pair go upwards or downwards this week? To get an answer, one would need to wait for a clearer signal in the chart. The price would have to go above the distribution territory at 1.6500 before a bullish bias can be confirmed. Likewise, the price would have to go below the accumulation territory at 1.6300 before a bearish bias is confirmed.
USD/JPY: This currency trading instrument traded lower at the beginning of the last week and later rallied massively before moving sideways. The price action reveals that it is possible for the price to continue going upwards.
EUR/JPY: This cross started the last week in a bearish mode, and then experienced a bullish challenged before going bearish again. The price should cross the demand zone at 141.00 to the downside, going towards another demand zone at 140.00.
The weakness of the EUR/USD is expected to continue irrespective of any short-term rallies in the market. The price would soon test the support line at 1.3500.
EUR/USD: As indicated by the Bearish Confirmation Pattern in the chart, the pair is weak and would continue to trend lower. The weakness of the EUR/USD is expected to continue irrespective of any short-term rallies in the market. The price would soon test the support line at 1.3500.
USD/CHF: As indicated by the Bullish Confirmation Pattern in the chart, this pair is strong and would continue to trend upwards. The strength of the USD/CHF is expected to continue irrespective of any short-term bearish corrections in the market. The price would soon test the resistance level at 0.9150.
GBP/USD: Surprisingly (though it is not new), this market has assumed a bullish bias and it may start putting more effort to go further northward – as engineered by the bulls. It is possible that the weakness of the EUR/USD might indirectly cause a limited bullish movement in the market, but the price could reach the distribution territory at 1.6500.
USD/JPY: The vagary of the USD/JPY is gradually becoming a major source of concern. Recent bullish and bearish signals have proven to be short-lived and unreliable. A movement would happen suddenly and not when expected; and when a new bias is confirmed, a reversal would soon occur. At the present, a bullish signal is in place and it seems logical for one to take a profit at 105.00.
EUR/JPY: This cross has been able to maintain it bearish bias, and rallies have always been opportunities to sell short here. There is a barrier the bullish attempts at 142.00. Meanwhile the price could fall further before reaching there.
Last week was very interesting in the markets because there were significant reversals. For example, the EUR/JPY, which has long been in an equilibrium zone, was able to break out in the direction of the bears. The new biases would continue to be valid for this week.
EUR/USD: This pair was able to shrug off further bearish threats on it, as it went into a positive correlation with the Cable. There is now a Bullish Confirmation Pattern in the chart, and the price would break the resistance line at 1.3700 this week, while going further towards the resistance line at 1.3750.
USD/CHF: This pair was able to shrug off further bullish attempts on it, as it went into a negative correlation with the EUR/USD. There is now a Bearish Confirmation Pattern in the chart, and the price would break the resistance line at 0.8900 this week, while going further towards the resistance line at 0.8850.
GBP/USD: The Cable topped at 1.6650 and later plummeted by close to 160 pips. The RSI has crossed the level 50 to the downside, but the EMAs are yet to validate that. Only a movement below the accumulation territory of 1.6400 would render the current bullish bias invalid. Without that, it is believed that the price could rise from here.
USD/JPY: Caution had always been expressed about the limitation of the recent bullish signal in this market. Things have now suddenly gone bearish, and the indicators in the chart have confirmed this. From the supply level at 104.50, the price dropped by more than 200 pips; and it may continue going down this week
EUR/JPY: Last week was very interesting in the markets because there were significant reversals. For example, the EUR/JPY, which has long been in an equilibrium zone, was able to break out in the direction of the bears. The new biases would continue to be valid for this week.
It was noted that as long as the Cable is unable to close below the EMA 56 on the 4-hour chart, the bullish bias valid. This is exactly what happened: after testing the EMA 56 area several times, the price skyrocketed by over 120 pips. It is now trading above the accumulation territory at 1.6600.
EUR/USD: The Bullish Confirmation Pattern on the EUR/USD is still valid and the price would go further upwards after it leaves the current consolidation phase. The Williams’ % Range has retraced south a little, which means there is a hidden weakness in the market – a good point from which the price can rise further.
USD/CHF: The Bearish Confirmation Pattern on the USD/CHF is still valid and the price would go further downwards after it leaves the current consolidation phase. The Williams’ % Range has retraced north a little, which means there is a hidden stamina in the market – a good point from which the price can fall further.
GBP/USD: It was noted that as long as the Cable is unable to close below the EMA 56 on the 4-hour chart, the bullish bias valid. This is exactly what happened: after testing the EMA 56 area several times, the price skyrocketed by over 120 pips. It is now trading above the accumulation territory at 1.6600. The next target is at the distribution territory at 1.6650.
USD/JPY: The exponential weakness that was experienced in the market made it test the demand level at 102.00, a point from which the price bounced upwards. Right now, the price is a kind of moving sideways, but the supply level at 103.00 may prevent further rise, for the bearish outlook is still relevant. So the price may fall further.
EUR/JPY: The outlook on the USD/JPY is exactly valid for this cross - though the prices and the levels are different. The supply zone at 141.00 should check any bullish attempts, for the price is expected to go further south.
The weakness in the EUR/USD may continue this week, especially when the price breaks the support line at 1.3450 to the downside.
EUR/USD: The weakness in the EUR/USD may continue this week, especially when the price breaks the support line at 1.3450 to the downside. However, this may not occur without some upwards bounces along the way, which would tend to be opportunities to go short in the downtrend.
USD/CHF: The stamina in the USD/CHF may continue this week, especially when the price breaks the resistance level at 0.9100 to the upside. However, this may not occur without some pullbacks along the way, which would tend to be opportunities to go long in the uptrend.
GBP/USD: This currency trading instrument is also a weak market, but its characteristic upswings and downswings should be expected this week. The upswings should respect the major bias – which is bearish. This bearish bias would continue as long as the price stays below the distribution territory at 1.6500.
USD/JPY: Any rally on this pair would always be limited, and it would tend to pull back in the direction of the dominant outlook, which is southward. For more than 7 trading days, the bears have been unable to push the price below the demand level at 102.00. For the current outlook to be valid, the price must cut through that demand level and close below it this week.
EUR/JPY: This is also a bear market, and it would continue to be bearish this week. Any bullish attempts along the way may not take the price above the supply zone at 139.00; plus the next target in the price is at the demand zone of 137.00: an easy target indeed.
With the Bearish Confirmation Pattern in the chart, the USD/JPY continues to go south. The price is now trading below the supply level at 101.00.
EUR/USD: This pair remains a weak market irrespective of the rally that is currently taking place on it. As long as the price stays below the resistance line at 1.3600, it is safe to assume that the bears are in control. The support line 1.3500 was once breached and it will likely be breached to the downside again, especially as the price continues to trade downwards.
USD/CHF: This pair remains a bull market irrespective of the bearish correction that has started on it since the beginning of this week. The bullish outlook is not yet over, except the price trades below the support level at 0.8950. As long as the price stays above the support level at 0.8950, it is safe to assume that the bulls are in control. The resistance level at 0.9050 was once breached and it will likely be breached to the upside again, especially as the price continues to trade upwards.
GBP/USD: On the Cable, the exponential weakness that began last week has become seriously significant. This week so far, the price has dipped by over 160 pips, plus the price could still continue towards the accumulation territory at 1.6200.
USD/JPY: With the Bearish Confirmation Pattern in the chart, the USD/JPY continues to go south. The price is now trading below the supply level at 101.00. While it is possible that the supply level could be challenged by the bulls, the price may go further to touch the great demand level at 100.00.
EUR/JPY: As it was said before, this cross has been bearish all this New Year and this week is no different so far. Historical data shows that buying rallies in the downtrend works. A rally that proffers a ‘buy’ opportunity may soon occur.
There are new strong biases in the markets which are supposed to continue this week.
EUR/USD: The new lease of energy in the EUR has become strong enough to cause the pair to form a Bullish Confirmation Pattern in the chart. The target for this week is at the resistance line at 1.3700, and the price could even go beyond the target, provided that the buying pressure is strong enough.
USD/CHF: As a result of the negative correlation principle affecting both the EUR/USD and the USD/CHF, this pair has gone bearish. The price is now trading below the resistance level at 0.9000, and it should trudge reluctantly towards the support levels at 0.8950 and 0.8900 respectively.
GBP/USD: After testing the accumulation territory at 1.6250, the Cable bounced upwards by over 160 pips, closing at 1.6411. The buying pressure needs to take the price above the distribution territory at 1.6450 before it can be safely said that the recent bearish outlook is completely over.
USD/JPY: There are new strong biases in the markets which are supposed to continue this week. The price in this market has moved above the EMA 56 and the RSI period 14 has crossed the level 50 to the upside. It is thus expected that the price could easily test the supply level at 103.00 later.
EUR/JPY: By the time this cross tests the supply zone of 140.00, a bullish bias would have been confirmed in the chart. This means that the EMA 11 would have crossed the EMA 56 to the upside (the RSI period 14 is already above the level 50). Perhaps the price could also cross the supply zone at 141.00 to the upside.
The EURUSD is trading above the support level at 1.3650, and the next target is the resistance level at 1.3700.
EUR/USD: The EURUSD is trading above the support level at 1.3650, and the next target is the resistance level at 1.3700. Why is it so? There is a Bullish Confirmation Pattern in the chart, and since the market shrugged off further bearish threat on it last week, the price has gone upwards by over 180 pips.
USD/CHF: This week, the ultimate target is at the support level of 0.8900. The bias on the market is bearish and the USD is currently showing some signs of weakness. The resistance level at 0.9000 is a formidable barrier to the any possible bullish attempts on the way.
GBP/USD: Since the market tested the accumulation territory at 1.6250, it has been going upwards. But as far as the price action in the chart is confirmed, the current northward determination is limited; and the price needs to breach the distribution territory at 1.6450 to the upside before there can be any sensible confirmation of a northward outlook. The main target, should the price continue going further northward, is at the distribution territory at 1.6500.
USD/JPY: This pair gave a bullish signal at the end of last week, but the price has been consolidating to the downside this week. As long as the price stays above the demand level at 102.00, it could be said that the bullish signal is valid.
EUR/JPY: The EUR/JPY has been able to sustain the bullish signal it generated last week. At the present, any bearish correction that occurs in the market is an opportunity to go long. The pair is strong and should go further upwards.
The Cable was able to move more than 350 pips last week, closing at 1.6747. The target for this week is at the distribution territory of 1.6800, though there are possibilities of transitory pullbacks.
EUR/USD: This pair has been able to maintain its upward journey, moving close to the resistance area at 1.3700. For the northward journey to continue, the price would need to break the resistance area to the upside. The target for this week is at the resistance line of 1.3800.
USD/CHF: This pair has been able to maintain its southward journey, moving close to the support level at 0.8900. For the southward journey to continue, the price would need to break the support level to the downside. The target for this week is at the support level of 0.8850.
GBP/USD: The Cable was able to move more than 350 pips last week, closing at 1.6747. The target for this week is at the distribution territory of 1.6800, though there are possibilities of transitory pullbacks, because the RSI period 14 has moved into the overbought region. The Bullish Confirmation Pattern in the chart is extremely strong right now.
USD/JPY: The bearish signal in the market is still in place – the price is below the EMA 56 while the RSI period 14 is below the level 50. However, the ‘sell’ signal which comes as a result of the weakness in the Greenback, should be taken with tight targets, for it is not likely that the price would move below the demand level at 101.00.
EUR/JPY: This cross moved sideways throughout last week, but it was able to maintain its bullish outlook. Therefore it is more likely that when a breakout happens, it would be to the upside.
Yesterday, it was forecasted that there was likelihood that when a breakout happened on the EUR/JPY, it would be to the upside. That is exactly what has happened. From the demand zone of 139.50, the cross has gone upwards by over 140 pips.
EUR/USD: Given the existing Bullish Confirmation Pattern in the chart, this remains a bullish market, although the price has not moved significantly upwards this week. It is expected that the price would resume its bullish journey when momentum does return to the market.
USD/CHF: Given the existing Bearish Confirmation Pattern in the chart, this remains a bear market, although the price has not moved significantly downwards this week. It is expected that the price would resume its bearish journey when momentum does return to the market.
GBP/USD: After the Cable ran into the distribution territory at 1.6800, it has experienced a sharp pullback. The pullback is normal, but it ought not to go below the accumulation territory at 1.6600, otherwise it would jeopardize the current bullish outlook. The pullback is a good opportunity to go long.
USD/JPY: When a bearish signal was generated here last week, it was perceived as a limited thing, for other JPY pairs were bullish. The price has broken upwards seriously from the demand level of 102.00, and it should continue going up.
EUR/JPY: Yesterday, it was forecasted that it was more likely that when a breakout happened on the EUR/JPY, it would be to the upside. That is exactly what has happened. From the demand zone of 139.50, the cross has gone upwards by over 140 pips. This is the beginning of a new lease of another bullish bias, and the price may soon rest the supply zone at 141.50.
The USD/JPY has been making some bullish effort but there is a need for a break above the supply level at 103.00 before there is a strong Bullish Confirmation Pattern in the chart.
EUR/USD: This pair is expected to go further upwards in this week, reaching the target at the resistance line of 1.3800. The support line at 1.3700 should be a good barrier to the bears. With an increase in the buying pressure in this market, the price should be propelled towards the aforementioned target.
USD/CHF: One thing is noticed on the USDCHF: the market is bearish but the price has not been able to go downwards determinedly. The price fell only by 50 pips last week, and therefore the target for last week would be repeated this week (which is the support level at 0.8850).
GBP/USD: The pair is still consolidating to the downside – in a context of a bull market. A weekly pullback of around 180 pips is enough to threaten the extant bias and this is the reality in the chart. While it is possible that the price may go upwards any time, a move below the accumulation territory at 1.6550 would render the bullish outlook completely invalid.
USD/JPY: The USD/JPY has been making some bullish effort but there is a need for a break above the supply level at 103.00 before there is a strong Bullish Confirmation Pattern in the chart. Should this happen, the target for the week is situated at the supply level of 104.00.
EUR/JPY: In spite for the adamancy of the bears, this cross has been able to maintain its bullish outlook, with strong determination to go further northward. There is a possibility that the price could reach the supply zone at 142.00, but there are possibilities of consolidation and bearish retracements along the way.
On the EUR/JPY, we are watching the supply levels at 141.50 and 142.000.
EUR/USD: This pair is a bull market and further bullish movement is anticipated.
The support line at 1.3700 should do well in acting as a barrier to any possible southward pulls along the way. Meanwhile, the price should soon be trading above the resistance line at 1.3750.
USD/CHF: The USD/CHF is a bear market and further southward movement is expected. The resistance level at 0.8950 should do well in acting as a barrier to any possible bullish rallies along the way. Meanwhile, the price should soon be trading below the support level at 0.8850.
GBP/USD: As a result of the perpetual weakness of the Cable, there are mixed signals in this market. For example, the EMA 11 is still above the EMA 56, whereas the RSI period 14 does not support the bullish scenario. One fact is this: the bullish scenario remains intact for as long as the price is above the accumulation territory at 1.6600. Any movement below the accumulation territory (especially a price close below it) would generate short signals and short trades may then be sought.
USD/JPY: Here, the price is above the EMA 56 and the RSI period 14 is above the level 50. In spite of the equilibrium phase the price has been witnessing for the past several days, it is very much likely that when the price breaks out, it would be in favor of buyers.
EUR/JPY: On the EUR/JPY, we are watching the supply levels at 141.50 and 142.000. Why? It is because there is a clean Bullish Confirmation Pattern in the chart, and therefore, an upside breakout is expected soon. There has not been any significant northward movement for several days, but it would soon happen.
The Cable was able to maintain the bullish scenario on it last week. This week, we are watching the distribution territories at 1.6800 and 1.6850 as potential targets.
EUR/USD: The market was able to skyrocket from the support line at 1.3650 towards the resistance line at 1.3800. That was a movement of at least, 150 pips. The resistance line at 1.3800 itself is under furious attack, and it is currently giving way for the price to move further north. It is possible that the price would top at the next resistance line at 1.3900 this week.
USD/CHF: This pair was able to go beyond our target last week. The support level at 0.8800 is currently under siege and it is almost breached for further southward plunge. The battle between the bulls and the bears is very hot at this point, but the bears must maintain the price below the support level at 0.8800, even pushing it further south. This is what they need to do in order to show they are currently stronger than the bulls.
GBP/USD: The Cable was able to maintain the bullish scenario on it last week. There is a Bullish Confirmation Pattern in the chart and the price should go further upwards from here. This week, we are watching the distribution territories at 1.6800 and 1.6850 as potential targets.
USD/JPY: The weakness of the USD has made the USD/JPY to continue to look bearish. The price closed at 101.77 on Friday (below the EMA 56). Since the RSI period 14 itself is also below the level 50, it is probable that the price could go further bearish this week.
EUR/JPY: This is a bull market – in contrast to what its USD/JPY counterpart is doing. The cross will thus go further upwards this week, possibly targeting the supply zone at 141.50. The price could go beyond the target, but the bears are also looking for opportunities to overcome this trend.
The minor gaps that occurred on the JPY pairs at the beginning of this week mean that significant movements would soon occur on them.
EUR/USD: The bias on the EUR/USD is bullish and the price has bounced off the EMA 56, which is acting as a barrier to a further southward movement. The resistance line at 1.3800 was challenged last week, and it is expected that it would also be challenged again this week.
USD/CHF: This market remains bearish, although the price has been making an attempt to rally off the support level at 0.8800. The rally is limited in nature as long as the price is under the EMA 56. With the continuation of the bearish bias on this market, the price could go down to test the support level at 0.8800 again.
GBP/USD: Albeit it is possible that this market would go upwards again, it is OK to stay away from it until a clear directional bias is determined. When this is determined, there would be a Bullish Confirmation Pattern in the chart and long trades would be sought.
USD/JPY: The minor gaps that occurred on the JPY pairs at the beginning of this week mean that significant movements would soon occur on them. Following the gaps, there has been a rally since then (in this market). Unless, the price crosses the EMA 56 to the upside and closes above it, it is possible that the price would go downwards again, testing the demand level at 101.00.
EUR/JPY: Following the gaps that happened on the JPY pairs, this cross has made an attempt to rally but it has not succeeded in overruling the new bearish bias. While a movement above the supply zone at 140.50 would mean a real breach of the bearish bias, it is probable that the price would go south again and reach the demand zone at 139.00 in the near term.
Last week, it was rightly predicted that there would be significant movements on the JPY pairs. The pairs moved significantly upwards, breaching more and more supply levels. There are currently pullbacks in the markets, but the uptrends would continue this week.
EUR/USD: After much dithering, this market has been able to bring about an established bullish bias. The resistance line at 1.3900 was tried before the price moved into a temporary consolidation. This resistance line would be tested again and the price may attempt to move towards our ultimate target at 1.4000.
USD/CHF: The sudden weakness in the USD has caused a serious plunge in the price of the USD/CHF. At this point, the struggle between the bull and the bear is so intense, but the bull cannot help being battered by the bear. The easy/initial target for this week is at the support level of 0.8750. When the price tests that support level, it may bounce temporarily upwards, but there is a possibility of it being tested again and breached to the downside.
GBP/USD: Here, there has not been a significant bullish move, but the signal in the market is still bullish. The EMA 11 is above the EMA 56, while the RSI period 14 is not below the level 50. There may soon be a breakout to the upside.
USD/JPY: Last week, it was rightly predicted that there would be significant movements on the JPY pairs. The pairs moved significantly upwards, breaching more and more supply levels. There are currently pullbacks in the markets, but the uptrends would continue this week. The pullback on the USD/JPY could be contained at the demand levels of 103.00 and 102.50 respectively.
EUR/JPY: This cross shot skywards by over 450 pips last week. Right now, there is a bearish retracement which is supposed to be temporary. The market can go upwards again and run into the supply zone at 144.00.