EUR/USD: This pair moved sideways on Tuesday – an insignificant thing in the context of a downtrend. As it was mentioned last week, the outlook on this pair is bearish and further southward movement is expected this week. It could make the price go towards the support lines at 1.1250 and 1.1200.
USD/CHF: The USD/CHF pair was able to go further upward yesterday, though it was not significant. The price tested the resistance level at 0.9800, being above the support level at 0.9750. This resistance level should be overcome today as the price continues its gradual bullish movement.
GBP/USD: The Cable moved upwards yesterday, but that was not serious enough to result in a “buy” signal. In fact, it is better to stay away from this market right now because it is currently unattractive. It is expected that the price would either go above the distribution territory at 1.4550 or below the accumulation territory at 1.4350. This would happen today or tomorrow.
USD/JPY: The USD/JPY pair remains bullish, but in a precarious situation. Unless, the price goes above the supply level at 110.00, the bullish bias would remain weak. On the other hand, a movement below the demand level at 107.50 would mean a new release of bearish outlook. Today or tomorrow the market actions will be determined.
EUR/JPY: This currency trading instrument is quite choppy and rough right now. It is better to stay away from the market until there is a strong movement in one direction. This week, a strong movement in one direction can be expected any moment.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: This
pair moved sideways on Tuesday – an insignificant thing in the context of a
downtrend. As it was mentioned last week, the outlook on this pair is bearish
and further southward movement is expected this week. It could make the
price go towards the support lines at 1.1250 and 1.1200.
USD/CHF: The USD/CHF pair was able to
go further upward yesterday, though it was not significant. The price tested the resistance level at 0.9800, being above the support level at 0.9750.
This resistance level should be overcome today as the price continues its
gradual bullish movement.
GBP/USD: The Cable moved upwards
yesterday, but that was not serious enough to result in a “buy” signal. In
fact, it is better to stay away from this market right now because it is currently
unattractive. It is expected that the price would either go above the
distribution territory at 1.4550 or below the accumulation territory at 1.4350. This would happen today or tomorrow.
USD/JPY: The USD/JPY pair remains
bullish, but in a precarious situation. Unless, the price goes above the supply
level at 110.00, the bullish bias would remain weak. On the other hand, a movement
below the demand level at 107.50 would mean a new release of bearish outlook. Today
or tomorrow the market actions will be determined.
EUR/JPY: This
currency trading instrument is quite choppy and rough right now. It is better
to stay away from the market until there is a strong movement in one direction.
This week, a strong movement in one direction can be expected any moment.
The material has been provided by InstaForex Company – www.instaforex.com
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