USD/CHF: 1-hour
Is USD/CHF about to fly high like a G6? The pair has been hanging out in a rising channel over the past few days, and it looks like it might soon go up after staying in a tight range for the last 5 candles or so. Stochastic is also fast approaching the oversold territory, which might give even more encouragement to the bulls. A move to parity might be a good target for the bulls, while a break in the pattern can help the bears to push the pair to .9860, a previous support and resistance level
EUR/JPY: 4-hour
Look at EUR/JPY go! After hitting a bottom near 111.00 a few days ago, the pair is now nearing its previous high at 115.30. Will the pair hit resistance once more and drop to a support at 113.00, or will it sail past the previous high all the way to the 118.00 area? Stochastic is supporting a sell signal in the overbought region, but keep close tabs for any surprises!
GBP/USD: 4-hour
If you’re extremely bullish on the Cable, you may want to think twice! As you can see, the falling trend line that stretches all the way back in November 5 held up quite nicely last week, indicating that the downward trend still isn’t broken. Given how the pair has been making “lower lows” and “lower highs”, the bias is for a further move down, so look for a potential retest of major support at 1.5850. As long as that falling trend line holds, then you bears are safe yo!
