EURUSD: The Bearish bias on this pair is still extant – in spite of the current rally in the price. This current rally is not supposed to last long (just an opportunity to sell short in the context of a downtrend). The EMA 11 is below its EMA 56 counterpart. The support line at 1.3000 would soon be breached to the downside.
USDCHF: Here, the Williams’ % Range is still showing a strong buying pressure, while the EMA 11 is above the EMA 56. The trend is still bullish, and it would be OK to look for long trades. The next possible price target could be the resistance level at 0.9450.
GBPUSD: The price on the cable is still presumed to be bearish, in spite of the current rally. For this rally to violate the long-term bearish outlook the price would need to cross the EMA 56 to the upside and close above it (the RSI period 14 is already above the level 50). It is either the RSI period 14 goes below the level 50 for a ‘sell’ signal or the price crosses the EMA 56 to the upside for a ‘buy’ signal.
USDJPY: The USDJPY pair is bullish. I would remind that most sell signals that have been produced so far in this year on this market have proven to be bogus. There is a demand level at 93.00, and the price is not expected to break it below, otherwise, a new long trade would not be advised.
EURJPY: This cross is still in a bearish mode, although consolidating. So far in this week, the price has moved in a tight range, in a bearish scenario. It is either the bulls win when the price breaks the supply zone at 122.00 to the upside or the bears win when the price breaks the supply zone at 121.00 to the downside.