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EUR/USD: In spite of the adamancy of EUR, this pair remains in bear market. Yes, the outlook is bearish and the market is expected to continue going lower this week. The support line at 1.3700 has been challenged vigorously and it is almost given away to the bears. The main target for this week is at the support line of 1.3600.
USD/CHF: The USD/CHF tested the resistance level at 0.8950 last week. It would test that resistance level again this week. There is a Bullish Confirmation Pattern in the chart, and thus it is normal to expect that, with an increase in the buying pressure, the price would go further upwards.
GBP/USD: Last week, the Cable was largely bearish. This constant inability to trend higher has already resulted in a bearish signal in the chart. One may want to seek short trades as the price is poised to reach the accumulation territory at 1.6550. Should that accumulation territory be breached to the downside, the next target would be the accumulation territory at 1.6500.
USD/JPY: There has been a sharp reversal on the USD/JPY, though the long-term bias is bullish. From the supply level at 104.00, the price dropped by over 80 pips, closing at 103.24 on Friday (April 4, 2014). For the bullish bias to continue to make sense, the reversal must be contained at the demand level of 103.00.
EUR/JPY: The weakness of EUR is affecting the movement of the cross – which is showing some sign of weakness. The price must stay above the demand zone at 141.00. Otherwise, the tide would turn southward.
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