EUR/USD: The overall bias on this market remains bearish and the market can continue going further downwards as longs the USD is stronger than the EUR. The EUR/USD is now trading below the resistance line at 1.2850, going towards the support line at 1.2800. That support line is an easy target for the bears, because the possibility of the price testing it is very high.
USD/CHF: This pair no choice except to trend further higher and this statement would remain true as long as the EUR/USD is weak. At the present, the price is moving above the support level at 0.9400, going towards the resistance level at 0.9450. That is the first target for this week.
GBP/USD: The Cable experienced high volatility last week owing to the Scottish Referendum and its results. When this was going on, the bulls gain upper hands in the market; but the bears came back and started to batter the bulls. However, the possibility of a northward move is very high as long as the price remains above the accumulation territory at 1.6300. The price tested the distribution territory at 1.6500 last week – it may test it again this week.
USD/JPY: This is a bull market, but it still looks overbought, making the risk of a large pullback very high. This pair may test the supply level at 109.50, but it is unlikely that it would go above that level.
EUR/JPY: Since testing the supply zone at 141.00, this currency trading instrument has pulled back towards the south. Further pullback may cause the price to test the demand zone at 139.50 and 139.00 respectively.