EUR/USD

The pair is in the middle of a very strong uptrend at the moment, and the breach through the 1.3740 level which was a strong resistance and a key Fibonacci level, indicates that the move is validated and we might see the positive momentum continue to the 1.3900 level. The hourlies are a bit overbought which indicates that buying on dips might be preferable.

GBP/USD

The uptrend the cable is going through seems to be very strong and the daily chart validates that there is still room to run. The 4 Hour chart is confirming that the momentum up is still quite strong and that 2.0400 is a valid next target.

USD/JPY

After touching the 112.80 level for the second time this month, the pair seems to be consolidating around the 113.00 level. There is a bullish cross forming on the 4 Hour chart that indicates a slight correction up before the bearish move continues. Selling on tops might be preferable today.

USD/CHF

The pair is consolidating in the 1.1860 level after the sharp drop from 1.2100. The momentum is bearish and the next key level will 1.1820 which is the bottom of the last downwards move which started at 1.2462. If a breach through that level will occur a stronger bearish move will be validated that might take the pair to the 1.1740 level.