EURUSD: The bearish signal that was formed on the EURUSD pair (last week) is seriously threatened. If the current scenario continues, it would lead to a northward confirmation. The RSI 14 is already far above the level 50. The resistance line at 1.3000 has been breached upwards as the price goes towards another resistance line at 1.3050.
USDCHF: The weakness in USD has dragged this pair down by around 75 pips. This is confirmed as the RSI 14 period has gone below the level 50. If the current scenario continues, a bearish signal will be valid. It is so, especially when the price goes towards the support level at 0.9250.
GBPUSD: The GBPUSD pair failed to test the accumulation level at 1.6000 before skyrocketing by over 120 pips was observed. This is a buy signal, but you should pay attention to the Williams’ % Range, which is in the overbought territory. This means that the price may pull back a little before the northward move continues.
USDJPY: The RSI fell below the level 50, but the price failed to close below the EMA 56. This means that the recent bearish attempt was a mere correction. The price has now gone above the EMA 56 – going further north. The next target could be the supply territory at 80.00.
EURJPY: The scenario on this market is almost similar to that of the USDJPY pair (with minor variations). In fact, this is true for other JPY pairs. It looks like the supply zone at 104.00 would not be a far-fetched target, in spite of the overbought condition on the Williams’ % Range period 20.