EURUSD: This week, the EURSD pair moved largely in a bullish mode. The price did succeeded (albeit temporarily) in breaking the market line at 1.3100 to the upside, but it could not sustain that success. The present bearish pullback, however, is not supposed to push the price below the support line of 1.3050, after which the market price would rise upwards again.
USDCHF: Though it was not that much, the pair has remained in bullish determination for the most part of this week. There has been desperate struggle between the bull and the bear around the support level at 0.9300, and for the bear to continue dominating, it would have to push the price perpetually below that level.
GBPUSD: The distribution territory at 1.5400 is the next challenge for the bullish cable, if it would continue its bullish determination. The RSI period 14 is above the level 50, while the EMA 11 is above the EMA 56; all giving an extant Bullish Confirmation Pattern. Even, any correction in the near-term ought not to reach the accumulation territory of 1.5300 at worst.
USDJPY: The instrument moved upwards this week, almost by 150 pips, and almost reaching the supply level at 100.00. As said earlier, it would be difficult for this pair to break the significant supply level at 100.00 to the upside. Right now, the pair is in some minor correction, but it may not go below the demand level at 99.00, if the current outlook would not be in danger.
EURJPY: This cross is also in a significant bullish bias, approaching important supply zones and breaking them upwards with some difficulty. The supply zone at 131.00 has been tested, before the current bearish retracement, which is not supposed to go below the demand zone of 129.50.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD: This week, the EURSD pair moved largely in a bullish mode. The price did succeeded (albeit temporarily) in breaking the market line at 1.3100 to the upside, but it could not sustain that success. The present bearish pullback, however, is not supposed to push the price below the support line of 1.3050, after which the market price would rise upwards again.
USDCHF: Though it was not that much, the pair has remained in bullish determination for the most part of this week. There has been desperate struggle between the bull and the bear around the support level at 0.9300, and for the bear to continue dominating, it would have to push the price perpetually below that level.
GBPUSD: The distribution territory at 1.5400 is the next challenge for the bullish cable, if it would continue its bullish determination. The RSI period 14 is above the level 50, while the EMA 11 is above the EMA 56; all giving an extant Bullish Confirmation Pattern. Even, any correction in the near-term ought not to reach the accumulation territory of 1.5300 at worst.
USDJPY: The instrument moved upwards this week, almost by 150 pips, and almost reaching the supply level at 100.00. As said earlier, it would be difficult for this pair to break the significant supply level at 100.00 to the upside. Right now, the pair is in some minor correction, but it may not go below the demand level at 99.00, if the current outlook would not be in danger.
EURJPY: This cross is also in a significant bullish bias, approaching important supply zones and breaking them upwards with some difficulty. The supply zone at 131.00 has been tested, before the current bearish retracement, which is not supposed to go below the demand zone of 129.50.
The material has been provided by InstaForex Company – www.instaforex.com
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