EUR/USD: As a result of low volatility in the market, the EUR/USD simply moved in a sideways manner on Friday. The bearish trend is still valid, and when the volatility resumes in the market, the price could test the support line of 1.2750 again. This means a short trade ought to be sought. Ultimately, the support line at 1.2700 would be reached.
USD/CHF: The major outlook on the USD/CHF is bullish. In the face of low activity in the market, the pair only moved within a consolidation zone on Friday. When a breakout does occur, however, it would be in the direction of the overall bias, i.e. to the upside. The resistance line at 0.9550 would see the bullish attack again.
GBP/USD: The Cable remains a bullish market, and when the price finally shoots out of the present equilibrium phase, it would be to the upside. The indicators in the chart confirm a bullish bias; the distribution territory at 1.5250 would be tested again, after which the price might move towards the distribution zone at 1.5300 this week.
USD/JPY: This pair is poised to plunge further irrespectively of the currently weak rally. It would be mentioned that the primary trend here is bearish, so the current rally is just an opportunity to go short at a slightly higher price. Eventually, the price is supposed to test the demand level at 93.50 again. The next demand level to be breached after this would be the one at 93.00.
EUR/JPY: This cross is also in a bearish mode, though it has been trading in a range recently. Throughout last week, the price was unable to go below the demand level of 120.00, so, given the extant bearish confirmation scenario, the price would test that demand zone again. After this, the next target would be the demand zone at 119.50.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: As a result of low volatility in the market, the EUR/USD simply moved in a sideways manner on Friday. The bearish trend is still valid, and when the volatility resumes in the market, the price could test the support line of 1.2750 again. This means a short trade ought to be sought. Ultimately, the support line at 1.2700 would be reached.
USD/CHF: The major outlook on the USD/CHF is bullish. In the face of low activity in the market, the pair only moved within a consolidation zone on Friday. When a breakout does occur, however, it would be in the direction of the overall bias, i.e. to the upside. The resistance line at 0.9550 would see the bullish attack again.
GBP/USD: The Cable remains a bullish market, and when the price finally shoots out of the present equilibrium phase, it would be to the upside. The indicators in the chart confirm a bullish bias; the distribution territory at 1.5250 would be tested again, after which the price might move towards the distribution zone at 1.5300 this week.
USD/JPY: This pair is poised to plunge further irrespectively of the currently weak rally. It would be mentioned that the primary trend here is bearish, so the current rally is just an opportunity to go short at a slightly higher price. Eventually, the price is supposed to test the demand level at 93.50 again. The next demand level to be breached after this would be the one at 93.00.
EUR/JPY: This cross is also in a bearish mode, though it has been trading in a range recently. Throughout last week, the price was unable to go below the demand level of 120.00, so, given the extant bearish confirmation scenario, the price would test that demand zone again. After this, the next target would be the demand zone at 119.50.
The material has been provided by InstaForex Company – www.instaforex.com
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