EURUSD:

After the break through the 1.36710 neck line, the double top formation (red) on the D1 chart brought the price to form a falling wedge formation, which broke through the upper level during the last week. The price was send to test the already broken 1.36710 neck line as a resistance, and currently we notice a bounce from this level, which implies for an eventual bearish activity. On the other hand, the momentum indicator has just crossed the 100-level line in bullish direction which is in a contradiction with the bearish bounce from the neck line. Having in mind that the price has not still fully completed the red double top formation, we might see another strong decrease of the price.
USDJPY:

After the bullish break through the three times tested green bearish trend line from April 4, the price increased and tested the already broken orange bullish trend line from March 2013 as a resistance and the 102.723 resistance at once. As you can see, after interacting with these levels, the price definitely demonstrates a slowdown and a potential for a decrease. For this reason, we should carefully watch the behavior of the price on these two levels. A bullish break might bring the price to interact with the old 103.822 resistance (red). A bearish bounce from the two levels would turn into a potential support any previous bottom of the price.
GBPUSD:

After confirming the double top formation on D1 (green) with crossing the 1.67327 neck line, the price increased to the yellow bearish line again. As we know, the yellow bearish line connects the two tops of the double top formation. With testing it for third time, the price has turned the line into a bearish trend. Currently, the price is still on the yellow bearish trend and also, the price is testing the already broken lower level of the blue bullish corridor as a resistance. At the same time, the momentum indicator is testing the 100-level line from the same side. For this reason, we believe that the current situation is crucial for the Cable. A bullish break in the yellow bearish trend line might actually lead to new highs and a cross in the 100-level line for the momentum indicator could be used as a signal for this scenario. On the other hand, as we know, the price has a double top formation to complete, so a bearish bounce from the green bearish trend is very likely to occur.

 

USDCHF:

The price broke the lower level of the green rising wedge formation and decreased with about 50 pips, which almost accomplished the potential of the formation. At the same time, the momentum indicator crossed the 100-level line in bearish direction, which confirmed the bearish movement. This means that the potential bearish correction could last even longer, and the price might decrease even more – for example to the Simple Moving Average 50 or the orange bullish line. The situation by the Swissy is pretty similar to the EUR/USD pair. Here we have a confirmed double bottom formation (yellow), which has a strong bullish potential. For this reason, we believe that after reaching a certain support level, the price would probably return to its bullish habits.
AUDUSD:

The potential double top formation by the Aussie is currently turning into a bullish pennant. Currently, the price is testing the green bearish line for third time, which turns the green line into a bearish trend line. At the same time, the momentum indicator records a slowdown in its last movement, which is relevant with the interaction of the price with the green bearish trend. Anyway, we should follow the behavior of the price on the green bearish trend, because a bullish break might destroy the bearish expectations and the price might increase to the 0.94644 resistance, which is above the previous top of the price. On the other hand, if the price is going to move according to the flag, we should expect another decrease to the 0.92001 support (the lower level of the flag) before any bullish break. Furthermore, such decrease might even bring the price through the 0.92001 support, which is also the neck line of the double top formation (yellow) which seems lost for now.