EUR/USD: The bias on this pair is bullish, and the price is expected to trend higher this week. The possibility of pullbacks cannot be ruled out, but the threats should be contained at the support lines of 1.3850 and 1.3800 respectively. Meanwhile, the resistance line at 1.4000 is a valid target for this week.
USD/CHF: This is a bear market, although it is slow and tardy in manner. The support level at 0.8700 has been tested and it is should be easily re-tested, and breached to the downside. After this, the price would then go further downwards towards the support level at 0.8650 – which is our target for this week.
GBP/USD: The Cable, which is in kind of a trendless market, remains difficult for swing traders to handle. Only intraday strategies are recommended here. One may buy at the distribution territory of 1.6700 and sell at the accumulation territory of 1.6600, as long as the trendless phase holds out. Eventually, there is a serious breakout going to be that leads to a clear directional bias. When this happens, it is more likely to be towards the downside, until a bearish indication in the chart.
USD/JPY: Since the USD/JPY is extremely bearish, we are looking forward to selling on rallies this week. Yes, in the face of the current Bearish Confirmation Pattern in the chart, the only sensible thing is to seek a short trade when the price dippes in a downtrend. The price may reach the demand level at 100.50 this week.
EUR/JPY: EUR may not be as weak as USD, but the stamina in the yen is more than what the currency could withstand. This cross dropped throughout last week and the bearish scenario on it was confirmed. We are bearish for this week.
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EUR/USD: The bias
on this pair is bullish, and the price is expected to trend higher this week.
The possibility of pullbacks cannot be ruled out, but the threats should be
contained at the support lines of 1.3850 and 1.3800 respectively. Meanwhile, the
resistance line at 1.4000 is a valid target for this week.
USD/CHF: This is
a bear market, although it is slow and tardy in manner. The support level at
0.8700 has been tested and it is should be easily re-tested, and breached to
the downside. After this, the price would then go further downwards towards the
support level at 0.8650 – which is our target for this week.
GBP/USD: The Cable, which is in kind of a trendless
market, remains difficult for swing traders to handle. Only intraday strategies
are recommended here. One may buy at the distribution territory of 1.6700 and
sell at the accumulation territory of 1.6600, as long as the trendless
phase holds out. Eventually, there is a serious breakout going to be that leads to a clear directional bias. When this happens, it is more likely to be
towards the downside, until a bearish indication in the chart.
USD/JPY: Since the USD/JPY
is extremely bearish, we are looking forward to selling on rallies this
week. Yes, in the face of the current Bearish Confirmation Pattern in the
chart, the only sensible thing is to seek a short trade when the price dippes
in a downtrend. The price may reach the demand level at 100.50 this week.
EUR/JPY: EUR
may not be as weak as USD, but the stamina in the yen is more than what the
currency could withstand. This cross dropped throughout last week and the
bearish scenario on it was confirmed. We are bearish for this week.
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