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EUR/USD: This market is bearish in the near term, though the movement is developing some equilibrium propensity. The price is likely to go further south. The support line at 1.1150 was tested and it could be breached to the downside.
USD/CHF: There is a bullish signal on the USD/CHF chart and it would be valid as long as the support level at 0.9250 is not breached to the downside. The resistance level at 0.9400 has been tested and it could be tested again. It could even be breached to the upside.
GBP/USD: On the cable, a current short-term rally might proffer another short-selling opportunity. Any movement below the accumulation territory at 1.5600 would result in a clean Bearish Confirmation Pattern (especially as the market goes further downwards). By then, the EMA 11 would have crossed the EMA 56 to the downside, and the crossing is almost taking place. The RSI period 14 is already below the level of 50. This expectation may be overturned in case the distribution territory at 1.5850 is crossed to the upside.
USD/JPY: This pair is moving sideways. There is one outcome: sideways and slow movements would be followed by strong and fast movements, no matter how long the slow movements take. Strong and fast movements would be followed by sideways and slow movements, no matter how long the fast movements take. When the markets are moving slowly and sideways, trend-following strategies do not provide great results, but scalpers and short-term traders thrive. When the markets are moving fast and directionally, trend-following strategies produce great results. On the USD/JPY, there would be a great directional movement in July 2015 (and most probable in direction of bears).
EUR/JPY: The EUR/JPY pair is a bearish market, and since the bearish signal has been formed. The market has been moving sideways. However, there could be a significant movement today or next week. The fundamental economic data from the eurozone could have a great impact on the market.
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