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EURUSD
Primary trend: Bearish
This pair has trended downwards recently, with each intermittent rally providing a great opportunity to sell short. However, the downtrend has not been so strong because the price has hardly gone below the support line at 1.3000. The major bias remains bearish and it ought to continue so. Eventually, the price might broke the support line of 1.3000 to the downside and eventually close below it. Then the next target could be the support line at 1.2900.
USDCHF
Primary trend: Bullish
This market has been able to uphold it bullish bias so far. The price has not gone too far, and therefore, has more room to go. Recently, the bullish journey has been tardy, but sure. At the time of preparing this article, the price was above the resistance level at 0.9300; it would not be difficult for it to break the resistance levels at 0.9400 and 0.9500 to the upside.
GBPUSD
Primary trend: Bearish
All indicators on the Cable show a downtrend. There is still a Bearish Confirmation Pattern on the chart. This bias will continue to drag on; even any short-term rally would be a great indication to open a short trade. So, in spite of the current weak rally, the price is expected to plunge and break the accumulation territory at 1.5100 to the downside. If the price is able to close below that accumulation territory, the next target would be the price territory at 1.5000.
USDJPY
Primary trend: Bearish
The bullish trend is over on this pair, but the current bearish scenario is under a serious threat, owing to some northward correction on the USDJPY, following its significant bearish plunge on February 25, 2013. No matter what, one should not seek long trades on this pair until a clearer signal is generated. Right now, it’s more probable that when there is another significant movement on the USDJPY, it would be in favor of sellers.
EURJPY
Primary trend: Bearish
This cross experienced a serious bearish run on February 25, 2013. That day alone, the price nosedived by over 500 pips! After this, the price tried to recover a small part of this huge loss. Interestingly, what looks like a rally now is another good opportunity to sell short, for indicators on the chart confirm that the bearish scenario is extant. The price may eventually break the demand zone at 120.00 to the downside, heading towards the demand zone at 119.00.
Conclusion: The world of speculation is there as a result of the battle of the bull and the bear. Whenever there are buying and selling activities, there would be gainers and losers. Both buyers and sellers cannot make gains at exactly the same time, since the market either goes northwards or southwards. Also, when the market is in an equilibrium phase, there would be buying and selling activities on a very short-term basis. This shows that both the bear and the bull are still active.
