EUR/USD: The EUR/USD has tested the support line at 1.3600. In view of the extant bearish bias in the market, it is rational to expect the price to break that support line to the downside. This ought to be done this week, after which the price would continue to trade lower further towards another support line at 1.3550.
USD/CHF: The USD/CHF has tested the resistance level at 0.9100. In view of the extant bullish bias in the market, it is rational to expect the price to break that resistance level to the upside. This ought to be done this week, after which the price would continue to trade higher further towards another resistance level at 0.9150.
GBP/USD: The Cable remains weak and volatile. The bias is bearish, though the price has not traded in a directional manner lately. It is likely that the price would trade further south when momentum returns to the market. The accumulation territory at 1.6300 is the target for this week.
USD/JPY: The recent bearish signal that was generated on this pair has proven to be bogus. The price rejected the bearish threat on it and assumed a renewed bullish journey – something that has resulted in a Bullish Confirmation Pattern. The price is now nosing towards the supply level at 105.00, though it seems a difficult task for it to break another supply level at 105.50.
EUR/JPY: This cross is trying to regain some of the losses it sustained last week. For it to fully regain it, the price would need to go above the supply zone of 145.00, which looks like a lofty target right now. Should this expectation fail, the bulls would have lost the battle.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: The EUR/USD has tested the support line at 1.3600. In view of the extant bearish bias in the market, it is rational to expect the price to break that support line to the downside. This ought to be done this week, after which the price would continue to trade lower further towards another support line at 1.3550.
USD/CHF: The USD/CHF has tested the resistance level at 0.9100. In view of the extant bullish bias in the market, it is rational to expect the price to break that resistance level to the upside. This ought to be done this week, after which the price would continue to trade higher further towards another resistance level at 0.9150.
GBP/USD: The Cable remains weak and volatile. The bias is bearish, though the price has not traded in a directional manner lately. It is likely that the price would trade further south when momentum returns to the market. The accumulation territory at 1.6300 is the target for this week.
USD/JPY: The recent bearish signal that was generated on this pair has proven to be bogus. The price rejected the bearish threat on it and assumed a renewed bullish journey – something that has resulted in a Bullish Confirmation Pattern. The price is now nosing towards the supply level at 105.00, though it seems a difficult task for it to break another supply level at 105.50.
EUR/JPY: This cross is trying to regain some of the losses it sustained last week. For it to fully regain it, the price would need to go above the supply zone of 145.00, which looks like a lofty target right now. Should this expectation fail, the bulls would have lost the battle.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: