EURUSD: The bullish attempts that happened this week have been rendered invalid. The price is coming down as the RSI 14 crosses the level 50 below. The EMA 11 has already crossed the EMA 56 on the downside – underlining this assumption. I have a sell signal here.
USDCHF: The bearish effort on the USDCHF pair has been rendered useless, as a new bullish confirmation is forming. The price now eyes the resistance levels at 0.9400. The RSI period 14 is now below the level 50 – sell.
GBPUSD: Even the seemingly powerful cable has given way to some gravity. From a high of 1.6169, the price has fallen by over 80 pips. If this scenario continues for a few more days, it would lead to a nice bearish trend.
USDJPY: This pair has maintained its strength tenaciously, even in this tricky week. The pair has maintained its predominantly bullish outlook. With a slow and steady upward journey, the price might reach the supply territory at 80.50.
EURJPY: The weakness in the euro is having an adverse effect on the bullish interest on the EURJPY cross. A new long position would not be recommended until a clearer bias is established. The present scenario would not be a surprise, since the Williams’ % Range is reverting from the overbought territory.