EUR/USD - Weekly Report
EUR/USD pair continued with the downside move that reached below 88.6% correction at 1.2885 showing on graph which favors extending bearishness to test the previous bottom 1.2745. The support 1.2785 is very significant and trading should stabilize below it to confirm extending the downside move towards Fibonacci levels 113% and 127.2%.
Of note, failing to stabilize below 1.2785 and 1.2745 and trading again above 1.2890 brings positivity back, but that requires a daily closing above 1.2890. Generally, the negativity showing on Linear Regression Indicators strengthens the expectations of extending bearishness.
GBP/USD - Weekly Report
The pair retested 1.6285 and remained stable above it keeping the upside move favored in the upcoming period, targeting mainly 1.6625. The negativity of Stochastic could halt the expected bullishness and slow the bullish wave; generally, the positive expectations remains valid unless the pair breaks 1.6285 and stabilized below it.
USD/JPY - Technical Report
The pair dropped today but remained limited and above 107.20, while trading above 109.00 and stability above it could extend the bullish wave to target 110.00, as trading above 105.90 keeps the bullish possibility valid.
USD/CHF - Technical Report
The pair moved back to the downside after failing to breach 0.9405 and 0.9420 keeping the downside move valid, and breaking 0.9370 accelerates extending bearishness to target 0.9290 and 0.9230, while trading again above 0.9420 could fail the suggested negative expectations.
