In this market-overview session, we reviewed the major currency pairs and some crosses.
The EUR/USD and the GBP/USD are still in a bullish trend, but both are moving inside monthly and weekly supply zones. Caution is advised for the bulls.
The USD/JPY is moving gradually higher and could try to reach the supply zone above around 110.60. The daily chart is forming a bearish reversal, so the pair could move lower in the coming days. Potential demand is found around 109 or lower around 108.60.
The USD/CHF is overall in a downtrend, but it has a nice demand zone on the daily chart around 0.8920. As discussed in the session, there could be a nice setup for long if the price tests this zone with price action and possibly a bullish divergence on the stochastic oscillator.
The USD/CAD is very bearish but moving inside a huge monthly demand zone and is at a strong support level right now. If the 4H triangle is broken, that could give a nice sell signal, but beware of the support/demand zones.
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