EUR/USD: The EUR/USD trended downwards on Tuesday, leading to a confirmation of the bearish scenario. This could be what the market would continue to do for most part of this week. There is a Bearish Confirmation pattern in the chart, and the price is trading below the EMAs 11 and 56.
USD/CHF: The USD/CHF was able to shrug off its bearish pulls, and it has assumed a new northward bias. Right now, it is judicious to look for long trades only, for the indicators are now giving some clear northward possibility. The pair has moved upwards by more than 120 pips this week, and the price is now trading above the market level of 0.9700.
GBP/USD: The Cable has been weak so far this week, having traded lower. On Tuesday, the market experienced more weakness, and it is reasonable to conclude that the price would continue its steady bearish run. At least, one would not want to go long in a bearish market until it is vivid that the bulls have recovered.
USD/JPY: The recent sell signal on the USDJPY has proven to be a bogus one. On Monday, the market consolidated to the upside (in the face of some banks’ holiday). On Tuesday, the price went upwards before encountering some supply forces at 102.50. In spite of the current downward retracement, the price would still go upwards.
EUR/JPY: The occurrence on this cross was similar to what happened on the USD/JPY, and of course, on other JPY pairs. The market moved sideways on Monday and went upwards on Tuesday. The bullish attempts suffered a transitory setback at the supply zone of 132.00. But the price would still go further upwards.