EUR/USD: At last, the EUR/USD was able to trade below the resistance line at 1.3800, leading to the awaited Bearish Confirmation Pattern in the chart. The support line at 1.3750 has been tested and could be re-tested again. Should it be broken to the downside, the price would go to the next support line at 1.3700.
USD/CHF: Since the current ‘buy’ signal on this pair has been established, the price has been going upwards in a noteworthy manner. Although there is a pause in the current buying pressure, it is possible that the price would not go lower than the support level at 0.8800 (which currently serves as a barrier to any bearish attempts). The resistance level at 0.8900 is the target for this week or next week.
GBP/USD: Since the Cable broke out downwards from the equilibrium zone, it has been trending further downwards. Now, the price is trading below the distribution territory at 1.6500, targeting the accumulation territory at 1.6450. With a continuation of the selling pressure, the accumulation territory would soon be tested.
USD/JPY: The ‘buy’ signal that occurred on the USD/JPY is currently under threat – plus the signal would be totally rendered useless when the price closes below the EMA 56. Should the price fail to close below the EMA 56, the bullish signal would be renewed. Otherwise, one may prepared to sell.
EUR/JPY: Despite the bullish attempts that have been seen this week, the bearish indication on this currency trading instrument remains valid. Right now, the price is trading below the supply zone at 141.00, testing the demand zone at 141.50.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: At last,
the EUR/USD was able to trade below the resistance line at 1.3800, leading to
the awaited Bearish Confirmation Pattern in the chart. The support line at 1.3750
has been tested and could be re-tested again. Should it be broken to the
downside, the price would go to the next support line at 1.3700.
USD/CHF: Since
the current ‘buy’ signal on this pair has been established, the price has been
going upwards in a noteworthy manner. Although there is a pause in the current
buying pressure, it is possible that the price would not go lower than the
support level at 0.8800 (which currently serves as a barrier to any bearish
attempts). The resistance level at 0.8900 is the target for this week or next
week.
GBP/USD: Since the Cable broke out downwards from the
equilibrium zone, it has been trending further downwards. Now, the price is
trading below the distribution territory at 1.6500, targeting the accumulation
territory at 1.6450. With a continuation of the selling pressure, the
accumulation territory would soon be tested.
USD/JPY: The ‘buy’ signal that
occurred on the USD/JPY is currently under threat – plus the signal would be
totally rendered useless when the price closes below the EMA 56. Should the
price fail to close below the EMA 56, the bullish signal would be renewed.
Otherwise, one may prepared to sell.
EUR/JPY: Despite
the bullish attempts that have been seen this week, the bearish indication on
this currency trading instrument remains valid. Right now, the price is trading
below the supply zone at 141.00, testing the demand zone at 141.50.
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