EUR/USD: This pair moved south 100 pips, closing just above the support line at 1.0950. There is a “sell” signal on the 4-hour chart and there is a high probability that price would go further downwards this week, especially in the face of the expected stamina in the USD, which would aid bears.
USD/CHF: The USD/CHF has been able to maintain its bullishness. There is a Bullish Confirmation Pattern on the chart, and further upward movement is possible. The price has gone above the support level at 0.9850, testing the resistance level at 0.9900. Despite several bullish attacks, the resistance level is yet to be broken to the upside. However, that objective could be realized this week.
GBP/USD: The Cable traded sideways last week, did not go neither above the distribution territory at 1.3400 nor below the accumulation territory at 1.2950. This caused the bias to become neutral in the near-term. But there could be a breakout this week or next, which would push the price above or below the aforementioned accumulation and distribution territories.
USD/JPY: This market first went upwards by 200 pips, topping at 107.48. Further bullish signal was rejected at that point and the price began to be corrected to the downside – at least by 150 pips. However, this has not rendered the bullish bias invalid (expect price drops by another 150 pips). Additional drop is thus expected this week because the JPY pairs might come under selling pressure anytime in the week.
EUR/JPY: There are mixed signals on this cross. It simply consolidated to the downside last week, but things have not gone completely bearish. That expectation could come to fruition this week; owing to a possible weakness in the JPY pairs. Thus, bears might be able to target the demand zones at 116.00, 115.50, and 115.00 this week.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
EUR/USD: This pair moved south
100 pips, closing just above the support line at 1.0950. There is a “sell” signal on the 4-hour chart and there is a high probability that price would go further
downwards this week, especially in the face of the expected stamina in the USD, which
would aid bears.
USD/CHF: The USD/CHF has been
able to maintain its bullishness. There is a Bullish Confirmation Pattern on
the chart, and further upward movement is possible. The price has gone above the
support level at 0.9850, testing the resistance level at 0.9900. Despite
several bullish attacks, the resistance level is yet to be broken to the
upside. However, that objective could be realized this week.
GBP/USD: The Cable traded sideways last week, did not go neither above the distribution territory at 1.3400 nor below the accumulation territory at 1.2950. This caused the bias to become neutral in the near-term. But there could be a breakout this week or next, which would push the price above or below the aforementioned accumulation and distribution territories.
USD/JPY: This market first went
upwards by 200 pips, topping at 107.48. Further bullish signal was rejected at
that point and the price began to be corrected to the downside – at least by 150
pips. However, this has not rendered the bullish bias invalid (expect price
drops by another 150 pips). Additional drop is thus expected this week because the JPY pairs might come under selling pressure anytime in the week.
EUR/JPY: There are mixed signals
on this cross. It simply consolidated to the downside last week, but things
have not gone completely bearish. That expectation could come to fruition this
week; owing to a possible weakness in the JPY pairs. Thus, bears might be able to
target the demand zones at 116.00, 115.50, and 115.00 this week.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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