EUR/USD: On Thursday, there
was an upwards bounce on the EUR/USD pair in the context of a downtrend. The
upwards bounce could end up giving a good short-selling signal as price is
expected to go downwards, reaching the support lines at 1.1150 and 1.1100.
USD/CHF: This pair continues
to be corrected gradually lower and lower, and this has begun to pose a threat
to the recent bullish signal. The Williams’ % Range period 20 is already in the
overbought region, and the EMA 11 is almost crossing the EMA 56 to the
downside. By the time prices crosses the support level at 0.9650 to the downside,
the bias would have turned bearish.
GBP/USD: The Cable also has
continued to climb upwards in the context of a downtrend. Price would not really
turn bullish until it goes above the distribution territory at 1.2900, which
would require a serious bullish movement. On the other hand, price may
eventually drop from here, supporting the current dominant bearish bias.
USD/JPY: There has been nothing significant on this market since yesterday, since it is generally quiet
now. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level
50, which means that the bias remains bullish. Once the RSI period 50 goes
below the level 50, it would warn of a trend reversal.
EUR/JPY: This cross has not
done anything significant this week. A movement above the supply zone at 125.00
would result in a clean Bullish Confirmation Pattern, while a movement below
the demand zone at 123.00 would result in a Bearish Confirmation Pattern. This
is the scenario that is supposed to happen early next week, since price may not
do anything serious today.
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