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EUR/USD: The EUR/USD traded downwards on Monday, generating a short-term bullish signal. Further downwards movement is possible and the price could reach the support lines at 1.1850 and 1.1800 within the next few days.
USD/CHF: This pair pulled back yesterday, but that was not significant enough to bring about any new bias on the market. A movement below the support level at 0.9500 would result in a bearish signal; while a movement above the resistance level at 0.9750 would lead to the renewal of a recent bullish signal.
GBP/USD: There is a kind of mixed signals on the Cable right now. Price went slightly bearish on September 25, and it almost posed a threat to the extant bullishness in the market. It is possible for the price to go northwards from here; thereby reiterating the bullish bias on the market. Further drop from here (by about 150 pips) could result in a bearish signal.
USD/JPY: This week began with a slight pullback on this currency trading instrument – and it has become a kind of threat on the recent bullish bias on the market. A movement below the demand level at 110.50 would generate a bearish signal, and a movement above the supply level at 112.50 would put more emphasis on the recent bullish signal.
EUR/JPY: The EUR/JPY dropped by over 180 pips on Monday. The drop was significant enough to pose a threat to the recent and precarious bullish bias on the market. It is possible that price could rise further from here, as the Yen is weakened further. The more bearish movement would result in a bearish signal.
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