EUR/USD: This is a bear market, and the break of the support line at 1.3500 would show the bears’ determination to continue pushing the price southward. This support line was tested last week, before the price bounced upwards. For the southward journey to continue, the price must test the support line again, and break it to the downside.
USD/CHF: This is a bull market, and the break of the resistance level at 0.9000 would show the bulls’ determination to continue pushing the price northward. This resistance level was tested last week, before the price pulled back southwards. For the northward journey to continue, the price must test the resistance level again, and break it to the upside.
GBP/USD: There is a Bearish Confirmation Pattern on the Cable, brought about by the inability of the price to go determinedly upwards. The price is currently trading below the distribution territory at1.7100, and a break below the accumulation territory at 1.7050 would mean a new lease of bearish energy.
USD/JPY: The USD/JPY is weak and the current upward bounce is supposed to be temporary: the price may turn downwards from that point, going towards the demand level at 101.00, which is a desirable target for the bears. On the other hand, any movement above the supply level at 101.50 would make short trades illogical in the market.
EUR/JPY: The outlook on this cross is southward, but there is a kind of consolidation in the market at the present. There is a lot of activity around the price zone at 137.00; but the price must go below the zone, so that the southward outlook can continue.