EUR/USD: Bulls keep on making serious effort to push the price northwards (something that has started since the beginning of this week). However, the overall bearish bias is still valid, and it would not be over until the resistance line at 1.0800 is breached to the upside.
USD/CHF: As the EUR/USD pair is making attempt to go north, the USD/CHF is making attempt to go south. But it is noted that the bullish outlook is not over until the support levels at 0.9600 is breached to the downside. In this case, there would been a strong bearish bias in the market.
GBP/USD: this pair rose by over 180 pips from the accumulation territory around 1.4600 closing above the accumulation territory at 1.4750. Further upwards movement can put the extant bearish bias in jeopardy.
USD/JPY: The USD/JPY plunged yesterday going below the supply level at 119.50. Now, the outlook for the market is bearish. It is likely to become especially strong when the demand level at 119.00 is breached to the downside.
EUR/JPY: This cross is making visible efforts to rally in the context of a downtrend. We cannot say that the Bearish Confirmation Pattern in the chart has been rendered invalid, for the EMA11 is still below the EMA 56 and the RSI period 14 remains below the level 50. To change this outlook, the price must move upwards by another 200 pips, which is an event that would result in a clean bullish confirmation.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: Bulls keep on making serious effort to push the price northwards (something
that has started since the beginning of this week). However, the overall bearish
bias is still valid, and it would not be over until the resistance line at
1.0800 is breached to the upside.
USD/CHF: As the
EUR/USD pair is making attempt to go north, the USD/CHF is making attempt to go
south. But it is noted that the bullish outlook is not over until the
support levels at 0.9600 is breached to the downside. In this case, there
would been a strong bearish bias in the market.
GBP/USD: this pair rose by over 180 pips from the accumulation territory around 1.4600 closing
above the accumulation territory at 1.4750. Further upwards movement can put the
extant bearish bias in jeopardy.
USD/JPY: The USD/JPY plunged yesterday going below the supply level at 119.50. Now, the outlook for the market is bearish. It is likely to become especially strong when the demand level at 119.00 is breached to the downside.
EUR/JPY: This
cross is making visible efforts to rally in the context of a downtrend. We cannot say that the Bearish Confirmation Pattern in the chart has been rendered
invalid, for the EMA11 is still below the EMA 56 and the RSI period 14 remains
below the level 50. To change this outlook, the price must move upwards by another 200 pips, which is an event that
would result in a clean bullish confirmation.
The material has been provided by InstaForex Company – www.instaforex.com
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